Procore Technologies (NYSE:PCOR) Given New $85.00 Price Target at BMO Capital Markets

Procore Technologies (NYSE:PCOR) had its price target boosted by BMO Capital Markets from $71.00 to $85.00 in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Scotiabank dropped their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. TD Cowen upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. The Goldman Sachs Group dropped their target price on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, JMP Securities dropped their target price on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Stock Up 1.9 %

Procore Technologies stock opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $83.35. The company’s 50-day moving average is $64.19 and its 200 day moving average is $63.98.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Equities research analysts anticipate that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total value of $107,625.00. Following the completion of the transaction, the chief financial officer now owns 171,997 shares of the company’s stock, valued at approximately $12,340,784.75. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at approximately $54,979,882.88. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,053 shares of company stock valued at $7,426,909 over the last 90 days. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XN LP raised its holdings in shares of Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after buying an additional 1,411,812 shares during the last quarter. Meritage Group LP raised its holdings in shares of Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after purchasing an additional 1,098,019 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after purchasing an additional 1,297,151 shares during the last quarter. Dragoneer Investment Group LLC raised its holdings in shares of Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Procore Technologies by 1.1% during the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after purchasing an additional 21,234 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.