Procore Technologies (NYSE:PCOR) Price Target Raised to $90.00 at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price target lifted by Piper Sandler from $70.00 to $90.00 in a report published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on PCOR. BMO Capital Markets lifted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday. JMP Securities lowered their target price on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group cut their price target on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. KeyCorp lowered their price objective on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird initiated coverage on Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Stock Up 4.6 %

Procore Technologies stock opened at $80.24 on Friday. The firm has a market capitalization of $11.93 billion, a P/E ratio of -160.48 and a beta of 0.71. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $83.35. The stock’s fifty day simple moving average is $64.64 and its 200-day simple moving average is $64.00.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities analysts expect that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, CFO Howard Fu sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now directly owns 171,997 shares in the company, valued at $12,340,784.75. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the completion of the sale, the senior vice president now owns 75,120 shares of the company’s stock, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,053 shares of company stock worth $7,426,909. 29.00% of the stock is owned by company insiders.

Institutional Trading of Procore Technologies

Hedge funds have recently modified their holdings of the business. XN LP raised its position in Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after acquiring an additional 1,411,812 shares in the last quarter. Meritage Group LP grew its stake in shares of Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after purchasing an additional 1,098,019 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after purchasing an additional 1,297,151 shares in the last quarter. Dragoneer Investment Group LLC lifted its stake in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the period. Finally, Holocene Advisors LP grew its position in Procore Technologies by 1.1% during the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after buying an additional 21,234 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.