Procore Technologies (NYSE:PCOR) Price Target Raised to $96.00

Procore Technologies (NYSE:PCOR) had its price objective upped by Robert W. Baird from $87.00 to $96.00 in a research report sent to investors on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group raised their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. TD Cowen raised their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. JMP Securities raised their price target on Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a research note on Monday, December 2nd. Stifel Nicolaus raised their price target on Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.71.

Procore Technologies Stock Performance

PCOR stock opened at $78.82 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $70.80 and its two-hundred day simple moving average is $65.29. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $86.67. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of -157.64 and a beta of 0.82.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Analysts predict that Procore Technologies will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $58.48, for a total value of $299,885.44. Following the sale, the director now directly owns 1,360,848 shares of the company’s stock, valued at $79,582,391.04. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,295 shares of company stock valued at $11,185,742. 29.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. GAMMA Investing LLC raised its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Procore Technologies during the third quarter valued at approximately $26,000. Signaturefd LLC raised its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. Rothschild Investment LLC purchased a new position in Procore Technologies during the second quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC raised its position in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.