Procore Technologies (NYSE:PCOR) Given New $75.00 Price Target at BMO Capital Markets

Procore Technologies (NYSE:PCOR) had its price objective lowered by BMO Capital Markets from $95.00 to $75.00 in a research note published on Wednesday, Marketbeat Ratings reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on PCOR. Macquarie lowered their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Mizuho lowered their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. KeyCorp dropped their price target on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Jefferies Financial Group cut their target price on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, UBS Group lifted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $81.18.

Procore Technologies Stock Up 1.3 %

Shares of Procore Technologies stock opened at $63.80 on Wednesday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of -88.61 and a beta of 0.90. The stock has a 50-day simple moving average of $67.74 and a 200-day simple moving average of $72.15. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $88.92. 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 (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. On average, equities research analysts expect that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,480 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $60.02, for a total transaction of $88,829.60. Following the sale, the chief financial officer now owns 206,704 shares of the company’s stock, valued at approximately $12,406,374.08. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,962 shares of company stock valued at $5,041,588 in the last three months. 29.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co increased its stake in Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after purchasing an additional 30,948 shares in the last quarter. US Bancorp DE raised its holdings in shares of Procore Technologies by 18.8% in the fourth quarter. US Bancorp DE now owns 21,416 shares of the company’s stock valued at $1,605,000 after purchasing an additional 3,390 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Procore Technologies during the fourth quarter valued at about $20,729,000. Barclays PLC grew its holdings in shares of Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after acquiring an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Procore Technologies during the fourth quarter worth $56,000. 81.10% of the stock is owned by institutional investors.

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.