Procore Technologies (NYSE:PCOR) Price Target Raised to $75.00

Procore Technologies (NYSE:PCOR - Free Report) had its price target increased by Mizuho from $65.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also weighed in on PCOR. JPMorgan Chase & Co. raised their target price on Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday. DA Davidson increased their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Piper Sandler upped their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, JMP Securities raised their price target on shares of Procore Technologies from $75.00 to $90.00 and gave the company a "market outperform" rating in a report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.71.

Procore Technologies Price Performance

PCOR stock traded down $2.76 during trading on Friday, hitting $78.82. 2,110,123 shares of the stock traded hands, compared to its average volume of 1,654,239. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of -163.17 and a beta of 0.82. Procore Technologies has a one year low of $49.46 and a one year high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $70.43 and a 200 day simple moving average of $65.24.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its 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). The company had revenue of $295.89 million during the quarter, compared to analysts' expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities analysts expect that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathryn Bueker sold 6,500 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.01, for a total transaction of $507,065.00. Following the sale, the director now owns 23,932 shares of the company's stock, valued at approximately $1,866,935.32. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the transaction, the director now owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,295 shares of company stock worth $11,185,742. Insiders own 29.00% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds have recently modified their holdings of PCOR. GAMMA Investing LLC grew its position in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company's stock valued at $25,000 after purchasing an additional 175 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies in the third quarter valued at approximately $26,000. Signaturefd LLC increased its position 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 in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock worth $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC acquired a new position in Procore Technologies in the 2nd quarter worth $51,000. Institutional investors and hedge funds own 81.10% of the company's stock.

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.