Barclays Increases Procore Technologies (NYSE:PCOR) Price Target to $64.00

Procore Technologies (NYSE:PCORFree Report) had its price target hoisted by Barclays from $54.00 to $64.00 in a report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

PCOR has been the subject of a number of other reports. Baird R W upgraded Procore Technologies to a strong-buy rating in a research note on Tuesday, September 24th. TD Cowen assumed coverage on shares of Procore Technologies in a research report on Wednesday, June 12th. They set a buy rating and a $85.00 price objective for the company. JMP Securities decreased their price objective on shares of Procore Technologies from $93.00 to $82.00 and set a market outperform rating on the stock in a report on Friday, August 2nd. Scotiabank cut their price objective on shares of Procore Technologies from $90.00 to $70.00 and set a sector outperform rating for the company in a research report on Friday, August 2nd. Finally, BMO Capital Markets lowered their target price on Procore Technologies from $85.00 to $71.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $70.13.

Get Our Latest Stock Analysis on Procore Technologies

Procore Technologies Trading Up 1.5 %

Shares of NYSE:PCOR opened at $60.32 on Monday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of -62.83 and a beta of 0.73. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35. The company’s fifty day simple moving average is $58.01 and its 200 day simple moving average is $65.63. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCORGet Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) EPS. As a group, research analysts forecast that Procore Technologies will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $1,359,806.02. Following the sale, the chief executive officer now owns 793,123 shares of the company’s stock, valued at approximately $46,905,294.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $1,359,806.02. Following the sale, the chief executive officer now directly owns 793,123 shares in the company, valued at approximately $46,905,294.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 3,846 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total transaction of $206,337.90. Following the transaction, the director now owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,890 shares of company stock worth $5,947,691 over the last three months. Corporate insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Several large investors have recently modified their holdings of the business. Tanager Wealth Management LLP increased its holdings in Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock valued at $834,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC increased its stake in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the period. Taylor Frigon Capital Management LLC increased its stake in shares of Procore Technologies by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after buying an additional 180 shares during the period. Signaturefd LLC raised 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 during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares during the period. Institutional investors own 81.10% of the company’s stock.

About Procore Technologies

(Get Free Report)

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.

Read More

Analyst Recommendations for Procore Technologies (NYSE:PCOR)

Receive News & Ratings for Procore Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procore Technologies and related companies with MarketBeat.com's FREE daily email newsletter.