Mizuho Lowers Procore Technologies (NYSE:PCOR) Price Target to $65.00

Procore Technologies (NYSE:PCOR - Get Free Report) had its price objective cut by Mizuho from $75.00 to $65.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's target price suggests a potential upside of 11.37% from the company's previous close.

Other analysts also recently issued research reports about the stock. JMP Securities increased their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. DA Davidson lowered their price target on shares of Procore Technologies from $80.00 to $60.00 and set a "neutral" rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group decreased their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, KeyCorp upped their target price on Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $86.88.

Procore Technologies Price Performance

Shares of Procore Technologies stock traded down $1.50 during trading on Tuesday, hitting $58.37. 1,030,883 shares of the company were exchanged, compared to its average volume of 1,731,829. 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 stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of -81.06 and a beta of 0.90. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The firm has a 50 day moving average price of $69.99 and a 200 day moving average price of $72.12.

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

Insider Activity

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was 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 owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,982 shares of company stock worth $5,069,759 over the last ninety days. Insiders own 29.00% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

A number of large investors have recently bought and sold shares of the company. Diversified Trust Co lifted its stake in Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company's stock worth $3,795,000 after purchasing an additional 30,948 shares during the last quarter. US Bancorp DE raised its holdings in shares of Procore Technologies by 18.8% during the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after buying an additional 3,390 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Procore Technologies during the 4th quarter worth $20,729,000. Barclays PLC boosted its stake in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies during the fourth quarter worth about $56,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.