KeyCorp Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target lifted by KeyCorp from $85.00 to $96.00 in a research note published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also commented on PCOR. Scotiabank raised their price target on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Piper Sandler lifted their target price on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group started coverage on Procore Technologies in a report on Monday, December 2nd. They issued a “buy” rating and a $105.00 target price for the company. Four research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $87.48 on Friday. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $87.90. The stock has a 50 day moving average of $77.63 and a 200 day moving average of $68.62. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, sell-side analysts forecast that Procore Technologies will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $76.77, for a total transaction of $492,095.70. Following the sale, the director now owns 1,231,368 shares in the company, valued at approximately $94,532,121.36. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total value of $117,000.00. Following the sale, the insider now owns 83,039 shares in the company, valued at $6,477,042. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,656 shares of company stock worth $8,776,297. Corporate insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV purchased a new position in shares of Procore Technologies during the fourth quarter worth about $273,000. Comerica Bank grew its holdings in shares of Procore Technologies by 87.0% during the fourth quarter. Comerica Bank now owns 131,316 shares of the company’s stock worth $9,839,000 after buying an additional 61,082 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Procore Technologies by 17.0% during the fourth quarter. Northern Trust Corp now owns 594,668 shares of the company’s stock worth $44,558,000 after buying an additional 86,192 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Procore Technologies during the fourth quarter worth about $10,345,000. Finally, Science & Technology Partners L.P. purchased a new position in shares of Procore Technologies during the fourth quarter worth about $25,558,000. Hedge funds and other 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.