Procore Technologies (NYSE:PCOR) Price Target Cut to $90.00 by Analysts at Jefferies Financial Group

Procore Technologies (NYSE:PCOR - Free Report) had its target price reduced by Jefferies Financial Group from $100.00 to $90.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on PCOR. Robert W. Baird boosted their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. KeyCorp increased their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. UBS Group raised their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Mizuho increased their price objective on Procore Technologies from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group boosted their target price on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.65.

Remove Ads

Procore Technologies Stock Up 2.0 %

Shares of PCOR stock traded up $1.33 during mid-day trading on Monday, hitting $68.96. The stock had a trading volume of 1,155,717 shares, compared to its average volume of 1,702,606. The firm has a market capitalization of $10.34 billion, a P/E ratio of -95.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $88.92. The firm's 50-day moving average is $75.34 and its two-hundred day moving average is $72.32.

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

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 1,447 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $68.79, for a total transaction of $99,539.13. Following the completion of the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at approximately $9,954,807.27. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $73.62, for a total transaction of $377,523.36. Following the completion of the transaction, the director now owns 1,264,700 shares in the company, valued at approximately $93,107,214. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,604 shares of company stock worth $5,427,468 in the last quarter. Company insiders own 29.00% of the company's stock.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of PCOR. Principal Financial Group Inc. boosted its stake in shares of Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. Capital World Investors grew its stake in shares of Procore Technologies by 453.6% in the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock worth $233,704,000 after acquiring an additional 2,555,612 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Procore Technologies during the fourth quarter worth $131,840,000. Assenagon Asset Management S.A. raised its stake in shares of Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock valued at $214,377,000 after acquiring an additional 1,425,967 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new position in Procore Technologies in the fourth quarter valued at $105,747,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.