Procore Technologies (NYSE:PCOR) Price Target Raised to $110.00

Procore Technologies (NYSE:PCOR - Free Report) had its price target raised by UBS Group from $105.00 to $110.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

PCOR has been the subject of several other reports. Barclays increased their price objective on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday. BMO Capital Markets raised their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Scotiabank increased their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Finally, JMP Securities reissued a "market outperform" rating and set a $90.00 price objective on shares of Procore Technologies in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.94.

Procore Technologies Trading Up 0.5 %

Procore Technologies stock traded up $0.45 during trading hours on Friday, hitting $87.95. The stock had a trading volume of 483,700 shares, compared to its average volume of 1,208,979. The business's 50 day simple moving average is $77.72 and its 200-day simple moving average is $68.73. Procore Technologies has a one year low of $49.46 and a one year high of $88.88. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of -175.66 and a beta of 0.84. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, equities analysts predict that Procore Technologies will post -0.22 EPS for the current fiscal year.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 2,668 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $190,388.48. Following the sale, the senior vice president now owns 72,605 shares of the company's stock, valued at $5,181,092.80. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the sale, the director now owns 1,231,368 shares in the company, valued at $94,532,121.36. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,656 shares of company stock valued at $8,776,297 in the last 90 days. Insiders own 29.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in Procore Technologies during the second quarter valued at $271,000. 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 valued at $25,000 after acquiring an additional 175 shares in the last quarter. Creative Planning purchased a new position in shares of Procore Technologies during the third quarter worth about $234,000. Ellsworth Advisors LLC increased its position in shares of Procore Technologies by 9.1% in the third quarter. Ellsworth Advisors LLC now owns 7,561 shares of the company's stock worth $467,000 after purchasing an additional 631 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Procore Technologies in the third quarter valued at approximately $26,000. 81.10% of the stock is currently owned by hedge funds and other 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.