Procore Technologies (NYSE:PCOR) PT Lowered to $80.00 at Canaccord Genuity Group

Procore Technologies (NYSE:PCOR) had its price target lowered by Canaccord Genuity Group from $95.00 to $80.00 in a research note released on Thursday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. KeyCorp lifted their target price on Procore Technologies from $85.00 to $95.00 and gave the company an overweight rating in a research note on Friday, February 16th. BMO Capital Markets lowered their target price on Procore Technologies from $90.00 to $85.00 and set an outperform rating on the stock in a research note on Thursday. Piper Sandler lowered their target price on Procore Technologies from $80.00 to $77.00 and set an overweight rating on the stock in a research note on Thursday. The Goldman Sachs Group lifted their target price on Procore Technologies from $74.00 to $85.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their target price on Procore Technologies from $83.00 to $86.00 and gave the company an overweight rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $81.79.

Procore Technologies Trading Down 1.6 %

PCOR stock opened at $68.14 on Thursday. The business’s 50-day moving average is $76.24 and its two-hundred day moving average is $68.91. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. Procore Technologies has a 1 year low of $48.11 and a 1 year high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. The firm had revenue of $260.04 million for the quarter, compared to the consensus estimate of $248.20 million. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. On average, equities research analysts anticipate that Procore Technologies will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $4,821,679.40. Following the completion of the transaction, the chief executive officer now directly owns 748,247 shares of the company’s stock, valued at $55,295,453.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $4,821,679.40. Following the completion of the transaction, the chief executive officer now directly owns 748,247 shares of the company’s stock, valued at $55,295,453.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $72.21, for a total value of $370,292.88. Following the completion of the transaction, the director now directly owns 1,543,037 shares of the company’s stock, valued at $111,422,701.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 538,672 shares of company stock valued at $41,509,564. 39.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC purchased a new position in Procore Technologies during the third quarter worth about $36,000. International Assets Investment Management LLC lifted its position in Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after buying an additional 887 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Procore Technologies during the fourth quarter worth about $62,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after buying an additional 297 shares during the period. Finally, TFO Wealth Partners LLC lifted its position in Procore Technologies by 43,600.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock worth $151,000 after buying an additional 2,180 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.