Brokerages Set Procore Technologies, Inc. (NYSE:PCOR) Price Target at $84.24

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $84.24.

Several analysts have recently weighed in on the stock. UBS Group started coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They set a "buy" rating and a $105.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Piper Sandler raised their price objective on Procore Technologies from $70.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. BMO Capital Markets boosted their target price on Procore Technologies from $71.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Finally, Robert W. Baird raised their price target on Procore Technologies from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th.

Procore Technologies Stock Up 2.5 %

PCOR traded up $1.87 during trading hours on Friday, hitting $77.04. 1,519,040 shares of the company's stock were exchanged, compared to its average volume of 1,301,620. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The firm has a market cap of $11.45 billion, a P/E ratio of -154.08 and a beta of 0.82. The firm has a 50 day moving average of $75.17 and a 200 day moving average of $66.40.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the sale, the chief executive officer now directly owns 770,458 shares of the company's stock, valued at $54,979,882.88. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the transaction, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,693 shares of company stock worth $10,479,096 in the last ninety days. Insiders own 29.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. CIBC Asset Management Inc raised its position in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company's stock worth $259,000 after buying an additional 143 shares during the period. Tanager Wealth Management LLP raised its holdings in shares of Procore Technologies by 1.3% in the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company's stock worth $787,000 after purchasing an additional 168 shares during the period. GAMMA Investing LLC raised its holdings in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company's stock worth $25,000 after purchasing an additional 175 shares during the period. Versant Capital Management Inc grew its holdings in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company's stock worth $42,000 after purchasing an additional 216 shares during the period. 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.