Barclays Raises Procore Technologies (NYSE:PCOR) Price Target to $90.00

Procore Technologies (NYSE:PCOR) had its price target increased by Barclays from $84.00 to $90.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 7.45% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PCOR. JPMorgan Chase & Co. lifted their target price on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Piper Sandler boosted their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group began coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They issued a “buy” rating and a $105.00 target price for the company. KeyCorp lifted their target price on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Scotiabank upped their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Procore Technologies Trading Up 11.5 %

Shares of Procore Technologies stock traded up $8.66 during trading on Friday, hitting $83.76. The stock had a trading volume of 897,000 shares, compared to its average volume of 1,109,830. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $86.67. The stock has a 50 day simple moving average of $77.54 and a 200 day simple moving average of $68.50. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $12.45 billion, a PE ratio of -165.64 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, research analysts expect that Procore Technologies will post -0.22 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 7,809 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $557,250.24. Following the completion of the sale, the chief financial officer now directly owns 164,188 shares of the company’s stock, valued at $11,716,455.68. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the transaction, the chief executive officer now owns 770,458 shares in the company, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,656 shares of company stock worth $8,776,297 in the last 90 days. 29.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

Several large investors have recently added to or reduced their stakes in PCOR. GAMMA Investing LLC increased its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in Procore Technologies in the third quarter worth $26,000. Versant Capital Management Inc boosted its stake in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.