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

Procore Technologies (NYSE:PCOR) had its target price lowered by Piper Sandler from $80.00 to $77.00 in a research report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on PCOR. DA Davidson reissued a buy rating and set a $95.00 target price on shares of Procore Technologies in a report on Thursday, March 14th. Stifel Nicolaus increased their target price on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a buy rating in a report on Friday, February 16th. BMO Capital Markets increased their target price on shares of Procore Technologies from $76.00 to $90.00 and gave the stock an outperform rating in a report on Friday, February 16th. JMP Securities increased their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a market outperform rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Procore Technologies from $76.00 to $81.00 and gave the stock an overweight rating in a report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of Moderate Buy and an average price target of $81.79.

Procore Technologies Stock Down 1.6 %

NYSE PCOR opened at $68.14 on Thursday. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $76.24 and its two-hundred day moving average price is $68.91.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. The firm had revenue of $260.04 million for the quarter, compared to the consensus estimate of $248.20 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. Equities analysts anticipate that Procore Technologies will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the transaction, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the transaction, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the transaction, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 538,672 shares of company stock valued at $41,509,564. Company insiders own 39.20% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Several large investors have recently made changes to their positions in PCOR. Xponance Inc. boosted its position in shares of Procore Technologies by 4.4% during the 3rd quarter. Xponance Inc. now owns 11,364 shares of the company’s stock valued at $742,000 after purchasing an additional 481 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Procore Technologies in the third quarter worth about $261,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Procore Technologies in the third quarter worth about $304,000. Bank of New York Mellon Corp boosted its holdings in shares of Procore Technologies by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock worth $29,686,000 after buying an additional 17,111 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Procore Technologies by 32.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock worth $1,073,000 after buying an additional 3,992 shares during the period. Institutional investors 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.