BMO Capital Markets Increases Procore Technologies (NYSE:PCOR) Price Target to $85.00

Procore Technologies (NYSE:PCOR) had its price target raised by BMO Capital Markets from $71.00 to $85.00 in a research report sent to investors on Friday morning, MarketBeat Ratings reports. BMO Capital Markets currently has an outperform rating on the stock.

PCOR has been the topic of a number of other reports. TD Cowen lifted their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays lifted their price target on Procore Technologies from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. DA Davidson restated a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Finally, KeyCorp lowered their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Price Performance

Procore Technologies stock opened at $80.24 on Friday. The stock’s fifty day moving average price is $64.64 and its two-hundred day moving average price is $64.00. The firm has a market cap of $11.93 billion, a PE ratio of -160.48 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies has a one year low of $49.46 and a one year high of $83.35.

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

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the sale, the chief executive officer now directly owns 770,458 shares in the company, valued at approximately $54,979,882.88. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now owns 75,120 shares in the company, 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. In the last quarter, insiders have sold 109,053 shares of company stock worth $7,426,909. Insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies during the third quarter valued at about $26,000. Signaturefd LLC boosted its position in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Procore Technologies in the 2nd quarter valued at about $51,000. 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.