The Goldman Sachs Group Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its target price upped by The Goldman Sachs Group from $73.00 to $83.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

PCOR has been the topic of several other reports. DA Davidson restated a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a report on Wednesday, October 2nd. BMO Capital Markets boosted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. Macquarie reiterated a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research note on Tuesday, July 30th. Piper Sandler boosted their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Trading Up 4.6 %

PCOR opened at $80.24 on Friday. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $11.93 billion, a P/E ratio of -160.48 and a beta of 0.71. The company has a fifty day moving average price of $64.64 and a two-hundred day moving average price of $64.00.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the sale, the director now owns 1,371,104 shares in the company, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the sale, the chief executive officer now owns 770,458 shares in the company, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,053 shares of company stock valued at $7,426,909 over the last 90 days. 29.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in Procore Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after purchasing an additional 143 shares during the last quarter. Tanager Wealth Management LLP increased its position in Procore Technologies by 1.2% during the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock valued at $834,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC increased its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the last quarter. Taylor Frigon Capital Management LLC increased its position in Procore Technologies by 0.3% during the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after acquiring an additional 180 shares during the last quarter. Finally, Signaturefd LLC increased its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

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.