Barclays Has Lowered Expectations for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target dropped by investment analysts at Barclays from $90.00 to $65.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 22.09% from the stock’s current price.

Several other research firms have also issued reports on PCOR. TD Cowen lifted their target price on Procore Technologies from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus reduced their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Thursday, January 22nd. DA Davidson raised shares of Procore Technologies to a “hold” rating in a report on Friday, November 7th. Finally, Piper Sandler boosted their price objective on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Seventeen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $79.20.

Procore Technologies Trading Up 11.2%

PCOR stock traded up $5.36 during trading on Friday, hitting $53.24. The company had a trading volume of 3,328,067 shares, compared to its average volume of 2,559,171. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8.28 billion, a P/E ratio of -63.48 and a beta of 0.89. The company has a 50 day simple moving average of $67.68 and a 200-day simple moving average of $69.99. Procore Technologies has a 52-week low of $46.08 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. As a group, research analysts forecast that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 10,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total value of $753,000.00. Following the completion of the sale, the executive owned 184,128 shares in the company, valued at approximately $13,864,838.40. This represents a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $64.31, for a total value of $494,672.52. Following the transaction, the director owned 1,035,212 shares in the company, valued at approximately $66,574,483.72. This represents a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 616,392 shares of company stock worth $44,460,801 in the last 90 days. 21.50% of the stock is owned by insiders.

Institutional Trading of Procore Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its position in shares of Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after acquiring an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies during the third quarter worth about $34,000. Jones Financial Companies Lllp grew its stake in shares of Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after buying an additional 199 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies in the 4th quarter valued at approximately $41,000. Finally, Allworth Financial LP increased its holdings in shares of Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Key Procore Technologies News

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Q4 earnings and revenue beat — Procore reported $0.37 EPS vs. a $0.35 consensus and revenue of $349.11M (vs. $340.8M expected); revenue rose ~15.6% year‑over‑year, showing continued top‑line growth. MarketBeat: Q4 results Zacks: Earnings beat
• Positive Sentiment: TD Cowen raised its price target to $85 and kept a Buy rating — the lift signals some analysts see materially more upside based on the results/strategy. Benzinga: TD Cowen raise
• Neutral Sentiment: Guidance was effectively in line — Procore issued FY revenue guidance around $1.5B (matching consensus) and Q1 revenue guidance of $351–353M versus a ~$349M consensus, so guidance neither dramatically upgrades nor cuts the outlook. Press release / guidance BusinessWire: Results
• Negative Sentiment: Several analysts trimmed price targets (Stifel to $63, BTIG to $66, KeyBanc to $80) despite maintaining Buy ratings — these cuts narrow upside and reflect more cautious valuation assumptions even after the beat. Benzinga: analyst moves TickerReport: Stifel TickerReport: BTIG MSN: KeyBanc cut

Procore Technologies Company Profile

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.