Piper Sandler Lowers Procore Technologies (NYSE:PCOR) Price Target to $79.00

Procore Technologies (NYSE:PCOR) had its target price lowered by equities researchers at Piper Sandler from $91.00 to $79.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 49.02% from the stock’s current price.

A number of other brokerages have also issued reports on PCOR. Wall Street Zen raised shares of Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. BTIG Research dropped their price objective on shares of Procore Technologies from $88.00 to $66.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus decreased their price target on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research note on Friday. TD Cowen boosted their price objective on shares of Procore Technologies from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird raised their price target on Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Seventeen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.60.

Procore Technologies Stock Performance

NYSE:PCOR traded up $5.13 on Friday, hitting $53.01. The stock had a trading volume of 3,719,058 shares, compared to its average volume of 2,570,734. The business’s 50-day simple moving average is $67.68 and its two-hundred day simple moving average is $69.99. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of -63.11 and a beta of 0.89. Procore Technologies has a 52-week low of $46.08 and a 52-week high of $88.92. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $349.11 million for the quarter, compared to analysts’ expectations of $340.80 million. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS. As a group, research analysts predict that Procore Technologies will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Lawrence Joseph Stack sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total value of $753,000.00. Following the completion of the transaction, the executive directly owned 184,128 shares in the company, valued at $13,864,838.40. The trade was a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Howard Fu sold 814 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $72.99, for a total transaction of $59,413.86. Following the sale, the chief financial officer directly owned 178,237 shares in the company, valued at approximately $13,009,518.63. The trade was a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 616,392 shares of company stock worth $44,460,801. Corporate insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in shares of Procore Technologies by 386.4% in the fourth quarter. First Trust Advisors LP now owns 179,459 shares of the company’s stock valued at $13,054,000 after purchasing an additional 142,561 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Procore Technologies by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,028 shares of the company’s stock valued at $65,032,000 after purchasing an additional 47,400 shares during the period. Sellaronda Global Management LP lifted its stake in Procore Technologies by 29.5% during the 4th quarter. Sellaronda Global Management LP now owns 285,000 shares of the company’s stock worth $20,731,000 after acquiring an additional 65,000 shares in the last quarter. State Street Corp boosted its stake in shares of Procore Technologies by 1.9% in the fourth quarter. State Street Corp now owns 1,986,224 shares of the company’s stock valued at $144,478,000 after purchasing an additional 37,279 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Procore Technologies in the fourth quarter worth $338,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Key Stories Impacting Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Q4 earnings and revenue beat — Procore reported $0.37 EPS vs. a $0.35 consensus and revenue of $349.11M (vs. $340.8M expected); revenue rose ~15.6% year‑over‑year, showing continued top‑line growth. MarketBeat: Q4 results Zacks: Earnings beat
• Positive Sentiment: TD Cowen raised its price target to $85 and kept a Buy rating — the lift signals some analysts see materially more upside based on the results/strategy. Benzinga: TD Cowen raise
• Neutral Sentiment: Guidance was effectively in line — Procore issued FY revenue guidance around $1.5B (matching consensus) and Q1 revenue guidance of $351–353M versus a ~$349M consensus, so guidance neither dramatically upgrades nor cuts the outlook. Press release / guidance BusinessWire: Results
• Negative Sentiment: Several analysts trimmed price targets (Stifel to $63, BTIG to $66, KeyBanc to $80) despite maintaining Buy ratings — these cuts narrow upside and reflect more cautious valuation assumptions even after the beat. Benzinga: analyst moves TickerReport: Stifel TickerReport: BTIG MSN: KeyBanc cut

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.