Procore Technologies (NYSE:PCOR) Price Target Lowered to $75.00 at BMO Capital Markets

Procore Technologies (NYSE:PCOR - Free Report) had its price objective cut by BMO Capital Markets from $95.00 to $75.00 in a report issued on Wednesday morning, MarketBeat reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on PCOR. JPMorgan Chase & Co. cut their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. KeyCorp lowered their target price on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday. Jefferies Financial Group decreased their price target on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Piper Sandler raised their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Mizuho lowered their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded up $0.81 on Wednesday, reaching $63.80. 1,082,207 shares of the stock were exchanged, compared to its average volume of 1,736,585. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $88.92. The business has a 50 day moving average price of $67.74 and a two-hundred day moving average price of $72.15. 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 firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of -88.61 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $302.05 million for the quarter, compared to analysts' expectations of $297.72 million. Analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the sale, the executive now directly owns 161,368 shares of the company's stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Fu sold 1,216 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $61.34, for a total value of $74,589.44. Following the completion of the sale, the chief financial officer now owns 208,184 shares in the company, valued at approximately $12,770,006.56. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,482 shares of company stock valued at $4,952,759 in the last quarter. Corporate insiders own 29.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Diversified Trust Co lifted its position in Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after acquiring an additional 30,948 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock valued at $1,605,000 after purchasing an additional 3,390 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Procore Technologies in the 4th quarter valued at about $20,729,000. Barclays PLC grew its stake in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after buying an additional 22,734 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies during the fourth quarter worth approximately $56,000. 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.