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

Procore Technologies (NYSE:PCOR) had its target price upped by research analysts at Barclays from $54.00 to $64.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 7.74% from the company’s previous close.

A number of other research analysts have also issued reports on PCOR. DA Davidson reiterated a “neutral” rating and issued a $60.00 target price on shares of Procore Technologies in a report on Wednesday, October 2nd. Scotiabank decreased their target price on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Macquarie reiterated a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a report on Tuesday, July 30th. Piper Sandler decreased their target price on Procore Technologies from $74.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.13.

Procore Technologies Trading Up 1.0 %

Shares of NYSE PCOR opened at $59.40 on Monday. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $58.46 and a 200-day simple moving average of $65.82. The stock has a market capitalization of $8.69 billion, a PE ratio of -61.26 and a beta of 0.73.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. The company’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.28) earnings per share. On average, equities analysts forecast that Procore Technologies will post -0.28 earnings per share for the current year.

Insider Activity

In other news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $58.48, for a total value of $299,885.44. Following the completion of the sale, the director now directly owns 1,360,848 shares of the company’s stock, valued at approximately $79,582,391.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the sale, the director now directly owns 1,360,848 shares of the company’s stock, valued at $79,582,391.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Howard Fu sold 1,142 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $68.68, for a total value of $78,432.56. Following the sale, the chief financial officer now directly owns 181,419 shares of the company’s stock, valued at approximately $12,459,856.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 99,890 shares of company stock valued at $5,947,691. Insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. GAMMA Investing LLC raised its stake in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. Sycomore Asset Management raised its stake in shares of Procore Technologies by 61.1% during the 2nd quarter. Sycomore Asset Management now owns 174,723 shares of the company’s stock worth $11,016,000 after buying an additional 66,248 shares in the last quarter. Ariadne Wealth Management LP purchased a new position in shares of Procore Technologies during the 2nd quarter worth approximately $501,000. Quarry LP raised its stake in shares of Procore Technologies by 984.6% during the 2nd quarter. Quarry LP now owns 1,128 shares of the company’s stock worth $75,000 after buying an additional 1,024 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Procore Technologies by 15.8% during the 2nd quarter. Algert Global LLC now owns 34,006 shares of the company’s stock worth $2,255,000 after buying an additional 4,646 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.