Procore Technologies, Inc. (NYSE:PCOR) Receives $90.24 Average Price Target from Brokerages

Procore Technologies, Inc. (NYSE:PCOR) has received a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $90.24.

Several research analysts have commented on PCOR shares. Robert W. Baird boosted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler upped their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. KeyCorp upped their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Stifel Nicolaus boosted their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $100.00 in a research report on Monday, January 6th.

Insider Activity

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 1,190 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.00, for a total value of $79,730.00. Following the completion of the sale, the chief financial officer now directly owns 146,160 shares of the company’s stock, valued at approximately $9,792,720. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,104 shares of company stock worth $5,541,738 over the last 90 days. 29.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the last quarter. Huntington National Bank boosted its position in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the period. Finally, Hilltop National Bank acquired a new position in Procore Technologies during the fourth quarter valued at approximately $53,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Up 1.3 %

NYSE PCOR opened at $70.37 on Thursday. The stock’s 50 day moving average is $76.38 and its 200 day moving average is $71.53. The firm has a market capitalization of $10.55 billion, a PE ratio of -97.73 and a beta of 0.85. The company has a quick ratio of 1.57, a current 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 $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Research analysts forecast that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

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.