Procore Technologies (NYSE:PCOR) Price Target Raised to $70.00 at DA Davidson

Procore Technologies (NYSE:PCOR) had its target price upped by analysts at DA Davidson from $60.00 to $70.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price target indicates a potential downside of 8.71% from the stock’s current price.

Several other brokerages have also weighed in on PCOR. Jefferies Financial Group raised their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. Barclays upped their target price on shares of Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday. Canaccord Genuity Group lifted their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler boosted their price target on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group raised their price objective on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Stock Up 1.9 %

NYSE PCOR traded up $1.45 on Friday, hitting $76.68. 3,600,860 shares of the stock were exchanged, compared to its average volume of 1,593,241. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. The company has a 50-day moving average price of $63.82 and a 200-day moving average price of $63.92. 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 company has a market cap of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Sell-side analysts anticipate that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $71.04, for a total transaction of $876,633.60. Following the transaction, the insider now directly owns 2,284,989 shares in the company, valued at approximately $162,325,618.56. This represents a 0.54 % 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, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at $79,606,298.24. The trade was a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,997 shares of company stock worth $4,497,153. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 175 shares during the period. V Square Quantitative Management LLC acquired a new stake in Procore Technologies in the 3rd quarter worth about $26,000. Signaturefd LLC grew its holdings in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC acquired a new position in shares of Procore Technologies during the 2nd quarter valued at about $51,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after acquiring an additional 789 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.