Procore Technologies (NYSE:PCOR) Price Target Raised to $110.00 at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price target hoisted by stock analysts at Piper Sandler from $90.00 to $110.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 46.41% from the company’s current price.

PCOR has been the topic of a number of other research reports. Scotiabank raised their price objective on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus raised their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Barclays lifted their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Canaccord Genuity Group upped their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, KeyCorp raised their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $87.18.

Procore Technologies Stock Up 1.1 %

PCOR stock opened at $75.13 on Friday. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of -150.26 and a beta of 0.84. The business’s fifty day moving average price is $77.54 and its two-hundred day moving average price is $68.50.

Procore Technologies (NYSE:PCOR) last posted 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 net margin of 6.59% and a negative return on equity of 2.51%. On average, equities analysts anticipate that Procore Technologies will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 6,410 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $76.77, for a total transaction of $492,095.70. Following the completion of the sale, the director now owns 1,231,368 shares in the company, valued at approximately $94,532,121.36. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was 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 of the company’s stock, valued at $54,979,882.88. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,656 shares of company stock worth $8,776,297 in the last quarter. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its holdings in Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after purchasing an additional 129 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC boosted 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 buying an additional 162 shares during the period. Finally, Tanager Wealth Management LLP grew its stake in Procore Technologies by 1.3% in the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock valued at $787,000 after buying an additional 168 shares in the last quarter. 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.