Procore Technologies (NYSE:PCOR) Price Target Lowered to $75.00 at Mizuho

Procore Technologies (NYSE:PCOR) had its price objective lowered by Mizuho from $80.00 to $75.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on PCOR. Piper Sandler boosted their target price on shares of Procore Technologies from $77.00 to $80.00 and gave the stock an overweight rating in a report on Friday, February 16th. The Goldman Sachs Group upped their target price on shares of Procore Technologies from $74.00 to $85.00 and gave the company a buy rating in a report on Friday, February 16th. JMP Securities boosted their price target on Procore Technologies from $81.00 to $93.00 and gave the stock a market outperform rating in a research report on Friday, February 16th. DA Davidson reaffirmed a buy rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. Finally, Stifel Nicolaus boosted their target price on Procore Technologies from $64.00 to $90.00 and gave the stock a buy rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $81.79.

Procore Technologies Price Performance

PCOR stock opened at $68.14 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The stock has a market cap of $9.87 billion, a PE ratio of -70.98 and a beta of 0.78. Procore Technologies has a 1 year low of $48.11 and a 1 year high of $83.35. The stock has a 50-day moving average price of $76.24 and a two-hundred day moving average price of $68.93.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. The business had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Equities analysts forecast that Procore Technologies will post -0.62 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other news, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.05, for a total value of $207,150.00. Following the completion of the sale, the insider now directly owns 122,321 shares in the company, valued at $8,446,265.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Benjamin C. Singer sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.05, for a total value of $207,150.00. Following the completion of the transaction, the insider now owns 122,321 shares of the company’s stock, valued at $8,446,265.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $71.79, for a total transaction of $368,139.12. Following the sale, the director now owns 1,532,781 shares in the company, valued at $110,038,347.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 533,544 shares of company stock worth $41,139,271. Corporate insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCOR. Xponance Inc. boosted its stake in Procore Technologies by 4.4% in the third quarter. Xponance Inc. now owns 11,364 shares of the company’s stock valued at $742,000 after buying an additional 481 shares in the last quarter. Raymond James & Associates bought a new position in shares of Procore Technologies in the third quarter worth about $261,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at approximately $304,000. Bank of New York Mellon Corp grew its holdings in shares of Procore Technologies by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock valued at $29,686,000 after purchasing an additional 17,111 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Procore Technologies by 32.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock valued at $1,073,000 after purchasing an additional 3,992 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

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.