Canaccord Genuity Group Issues Pessimistic Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target cut by research analysts at Canaccord Genuity Group from $90.00 to $72.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 37.01% from the stock’s current price.

Several other research firms have also commented on PCOR. BMO Capital Markets lowered their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Barclays dropped their price objective on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. KeyCorp reduced their target price on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. DA Davidson raised shares of Procore Technologies to a “hold” rating in a research note on Friday, November 7th. Finally, William Blair reissued an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.70.

Procore Technologies Price Performance

Shares of PCOR stock traded up $4.67 during midday trading on Friday, reaching $52.55. 4,186,512 shares of the company traded hands, compared to its average volume of 2,587,466. The firm’s 50 day simple moving average is $67.68 and its two-hundred day simple moving average is $69.99. The firm has a market cap of $8.17 billion, a PE ratio of -62.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. Procore Technologies has a 1-year low of $46.08 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $349.11 million during the quarter, compared to analysts’ expectations of $340.80 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.Procore Technologies’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, equities research analysts expect that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $71.91, for a total transaction of $21,573,000.00. Following the completion of the sale, the chairman owned 677,796 shares of the company’s stock, valued at approximately $48,740,310.36. The trade was a 30.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 9,615 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $75.13, for a total value of $722,374.95. Following the sale, the director owned 1,052,519 shares of the company’s stock, valued at $79,075,752.47. This represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 616,392 shares of company stock valued at $44,460,801 in the last ninety days. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its position in shares of Procore Technologies by 386.4% in the fourth quarter. First Trust Advisors LP now owns 179,459 shares of the company’s stock worth $13,054,000 after acquiring an additional 142,561 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Procore Technologies by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 894,028 shares of the company’s stock valued at $65,032,000 after acquiring an additional 47,400 shares in the last quarter. Sellaronda Global Management LP boosted its position in Procore Technologies by 29.5% during the 4th quarter. Sellaronda Global Management LP now owns 285,000 shares of the company’s stock worth $20,731,000 after purchasing an additional 65,000 shares during the period. State Street Corp increased its holdings in Procore Technologies by 1.9% in the 4th quarter. State Street Corp now owns 1,986,224 shares of the company’s stock valued at $144,478,000 after purchasing an additional 37,279 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Procore Technologies in the fourth quarter valued at about $338,000. 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. $0.35 consensus and revenue of $349.1M (up 15.6% y/y), a clear fundamental positive that supports upside potential. Zacks: Procore Beats Q4
• Positive Sentiment: Analyst upgrade/price-target increase — TD Cowen raised its PT from $80 to $85 and keeps a “buy” rating, signaling continued conviction in Procore’s growth trajectory and contributing to buying interest. TD Cowen raise (Benzinga)
• Neutral Sentiment: Guidance mixed/inline — Procore issued FY and Q1 revenue guidance roughly in line with consensus (Q1 revenue guided to ~$351.0M–$353.0M vs. $349M consensus; FY revenue ~ $1.5B). Guidance reduces uncertainty but did not materially outpace expectations. Press Release / Guidance
• Negative Sentiment: Piper Sandler cut its price target from $91 to $79 (still “overweight”), trimming upside expectations and likely capping some investor enthusiasm. Piper Sandler cut (Benzinga)
• Negative Sentiment: Barclays lowered its target from $90 to $65 while maintaining an “overweight” stance, a notable reduction that signals more conservative near-term valuation assumptions. Barclays cut (Benzinga)
• Negative Sentiment: Stifel trimmed its target from $85 to $63 (remains “buy”), another downward revision that may pressure sentiment despite the buy rating. Stifel cut (Benzinga) TickerReport
• Negative Sentiment: BTIG reduced its PT from $88 to $66 (keeps “buy”), another analyst trimming upside that adds to the mixed sell-side response. BTIG cut (Benzinga) TickerReport
• Negative Sentiment: KeyBanc also trimmed its target to $80, contributing to the cluster of downward PT revisions today. KeyBanc cut (MSN)

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. 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.