Procore Technologies (NYSE:PCOR) Price Target Lowered to $77.00 at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price objective decreased by Piper Sandler from $80.00 to $77.00 in a report published on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group lifted their price target on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a buy rating in a research report on Friday, February 16th. KeyCorp upped their target price on shares of Procore Technologies from $85.00 to $95.00 and gave the company an overweight rating in a research report on Friday, February 16th. JMP Securities lifted their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a market outperform rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their target price on Procore Technologies from $76.00 to $81.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Finally, DA Davidson restated a buy rating and set a $95.00 target price on shares of Procore Technologies in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $81.79.

Procore Technologies Stock Down 1.6 %

Shares of PCOR opened at $68.14 on Thursday. The business’s fifty day moving average price is $76.24 and its two-hundred day moving average price is $68.93. Procore Technologies has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. As a group, equities analysts forecast that Procore Technologies will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total value of $4,689,960.00. Following the sale, the chief executive officer now owns 530,049 shares of the company’s stock, valued at approximately $36,557,479.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the transaction, the chief executive officer now owns 530,049 shares of the company’s stock, valued at approximately $36,557,479.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now owns 77,768 shares in the company, valued at $5,747,055.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 533,544 shares of company stock valued at $41,139,271. Company insiders own 39.20% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of large investors have recently modified their holdings of the business. BluePath Capital Management LLC bought a new stake in Procore Technologies during the third quarter worth about $36,000. International Assets Investment Management LLC raised its stake in shares of Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Procore Technologies during the 4th quarter worth approximately $62,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Procore Technologies by 30.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after buying an additional 297 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after buying an additional 2,180 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.