KeyCorp Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its target price boosted by KeyCorp from $68.00 to $85.00 in a research report released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. JMP Securities dropped their price target on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. Macquarie reiterated a “neutral” rating and set a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. BMO Capital Markets lifted their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. DA Davidson reiterated a “neutral” rating and set a $60.00 target price on shares of Procore Technologies in a research note on Wednesday, October 2nd. Finally, Robert W. Baird started coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price target 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Procore Technologies Stock Up 1.9 %

PCOR stock opened at $76.68 on Friday. The company has a market cap of $11.40 billion, a P/E ratio of -153.36 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 52 week low of $49.46 and a 52 week high of $83.35. The company’s 50-day moving average price is $64.19 and its 200 day moving average price is $63.92.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, research analysts expect that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. The trade was a 0.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 770,458 shares in the company, valued at $54,979,882.88. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,053 shares of company stock valued at $7,426,909. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of PCOR. CIBC Asset Management Inc lifted its position in Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after buying an additional 143 shares in the last quarter. Tanager Wealth Management LLP lifted its holdings in shares of Procore Technologies by 1.2% during the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares in the last quarter. GAMMA Investing LLC increased its stake in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. Taylor Frigon Capital Management LLC lifted its holdings in shares of Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after acquiring an additional 180 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

About Procore Technologies

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.