Procore Technologies (NYSE:PCOR) Given New $63.00 Price Target at Stifel Nicolaus

Procore Technologies (NYSE:PCOR) had its price objective lowered by analysts at Stifel Nicolaus from $85.00 to $63.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 12.34% from the stock’s current price.

Other analysts also recently issued research reports about the company. KeyCorp cut their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday. Canaccord Genuity Group cut their target price on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho restated a “neutral” rating and set a $70.00 target price (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. Finally, Macquarie reiterated a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $69.27.

Procore Technologies Price Performance

PCOR stock traded down $11.14 on Friday, reaching $56.08. 11,590,550 shares of the company’s stock were exchanged, compared to its average volume of 1,410,030. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The firm has a market cap of $8.21 billion, a PE ratio of -56.21 and a beta of 0.75. The stock has a fifty day moving average of $66.94 and a 200-day moving average of $71.46. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The firm had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. As a group, equities analysts predict that Procore Technologies will post -0.35 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $70.29, for a total transaction of $360,447.12. Following the transaction, the director now owns 1,489,183 shares of the company’s stock, valued at approximately $104,674,673.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $70.29, for a total transaction of $360,447.12. Following the sale, the director now owns 1,489,183 shares in the company, valued at $104,674,673.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Scott Davis sold 7,851 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $550,904.67. Following the sale, the insider now directly owns 219,652 shares of the company’s stock, valued at approximately $15,412,980.84. The disclosure for this sale can be found here. Insiders have sold a total of 238,511 shares of company stock worth $16,024,349 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Several institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its position in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Procore Technologies during the second quarter worth $51,000. International Assets Investment Management LLC lifted its stake in Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Procore Technologies during the 4th quarter valued at about $62,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors 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.