Procore Technologies (NYSE:PCOR) PT Lowered to $78.00 at Barclays

Procore Technologies (NYSE:PCOR) had its price target trimmed by Barclays from $83.00 to $78.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on the stock. DA Davidson reaffirmed a buy rating and issued a $95.00 price target on shares of Procore Technologies in a research note on Thursday, March 14th. Mizuho lowered their price target on Procore Technologies from $80.00 to $75.00 and set a buy rating on the stock in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on Procore Technologies from $83.00 to $86.00 and gave the company an overweight rating in a research note on Thursday. Piper Sandler lowered their target price on shares of Procore Technologies from $80.00 to $77.00 and set an overweight rating on the stock in a research note on Thursday. Finally, BMO Capital Markets dropped their target price on shares of Procore Technologies from $90.00 to $85.00 and set an outperform rating for the company in a report on Thursday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $81.79.

Procore Technologies Stock Down 1.6 %

Procore Technologies stock opened at $68.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $9.87 billion, a PE ratio of -70.98 and a beta of 0.78. The business has a 50 day simple moving average of $76.24 and a 200-day simple moving average of $68.93. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly 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. The company had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. On average, analysts anticipate that Procore Technologies will post -0.62 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $75.00, for a total value of $600,000.00. Following the transaction, the insider now directly owns 116,318 shares in the company, valued at $8,723,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Benjamin C. Singer sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now directly owns 116,318 shares of the company’s stock, valued at approximately $8,723,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now owns 77,768 shares in the company, valued at $5,747,055.20. The disclosure for this sale can be found here. Insiders sold 533,544 shares of company stock worth $41,139,271 in the last 90 days. Insiders own 39.20% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds have recently made changes to their positions in PCOR. Ellsworth Advisors LLC lifted its stake in Procore Technologies by 3.0% during the fourth quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after purchasing an additional 170 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Procore Technologies by 7.5% in the 3rd quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock valued at $215,000 after buying an additional 231 shares during the period. Fifth Third Bancorp lifted its stake in Procore Technologies by 3.8% during the 1st quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock worth $589,000 after acquiring an additional 263 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after acquiring an additional 297 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Procore Technologies by 8.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,167 shares of the company’s stock valued at $272,000 after acquiring an additional 316 shares in the last quarter. Hedge funds and other institutional investors 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.