Barclays Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR - Get Free Report) had its price objective increased by stock analysts at Barclays from $64.00 to $66.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price suggests a potential upside of 0.52% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of Procore Technologies from $85.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Scotiabank dropped their price target on shares of Procore Technologies from $90.00 to $70.00 and set a "sector outperform" rating for the company in a research report on Friday, August 2nd. Baird R W raised shares of Procore Technologies to a "strong-buy" rating in a research report on Tuesday, September 24th. Macquarie reissued a "neutral" rating and issued a $70.00 price target on shares of Procore Technologies in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group dropped their price target on shares of Procore Technologies from $85.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $69.94.

Procore Technologies Stock Performance

Shares of PCOR traded up $3.01 during trading hours on Thursday, reaching $65.66. 4,395,627 shares of the company traded hands, compared to its average volume of 1,548,010. The stock's fifty day moving average is $59.99 and its 200 day moving average is $63.94. The stock has a market cap of $9.70 billion, a P/E ratio of -104.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. Procore Technologies has a 1-year low of $48.11 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. Equities research analysts anticipate that Procore Technologies will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now directly owns 79,156 shares of the company's stock, valued at $4,681,285.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the transaction, the senior vice president now directly owns 79,156 shares of the company's stock, valued at approximately $4,681,285.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 3,846 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the transaction, the director now directly owns 1,444,313 shares in the company, valued at approximately $77,487,392.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,748 shares of company stock valued at $5,661,056 over the last three months. 29.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tanager Wealth Management LLP raised its holdings in Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company's stock worth $834,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC raised its holdings in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company's stock worth $25,000 after acquiring an additional 175 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of Procore Technologies by 0.3% during the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company's stock worth $3,570,000 after acquiring an additional 180 shares during the period. Signaturefd LLC raised its holdings in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company's stock worth $42,000 after acquiring an additional 216 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company's stock worth $103,000 after acquiring an additional 260 shares during the period. 81.10% of the stock is owned by institutional investors.

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.