Procore Technologies (NYSE:PCOR) Given New $70.00 Price Target at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price objective boosted by Piper Sandler from $63.00 to $70.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

PCOR has been the subject of several other reports. DA Davidson restated a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Procore Technologies in a research note on Tuesday, July 30th. KeyCorp decreased their price target on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets cut their price objective on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Barclays increased their price target on shares of Procore Technologies from $54.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Six investment 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.94.

Procore Technologies Trading Up 3.0 %

Shares of PCOR stock traded up $1.95 during trading hours on Thursday, hitting $67.60. 680,543 shares of the company were exchanged, compared to its average volume of 1,543,918. The firm has a market cap of $9.98 billion, a P/E ratio of -131.32 and a beta of 0.73. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The company has a 50 day simple moving average of $59.99 and a two-hundred day simple moving average of $63.94.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.55%. The firm had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Equities analysts anticipate that Procore Technologies will post -0.28 EPS for the current year.

Insider Transactions at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of Procore Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now directly owns 79,156 shares in the company, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $53.84, for a total transaction of $207,068.64. Following the completion of the transaction, the director now owns 1,436,621 shares in the company, valued at approximately $77,347,674.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now owns 79,156 shares of the company’s stock, valued at $4,681,285.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,748 shares of company stock worth $5,661,056. 29.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

Several large investors have recently modified their holdings of PCOR. GAMMA Investing LLC increased its holdings in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies in the 3rd quarter valued at $26,000. Signaturefd LLC boosted its holdings 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 buying an additional 216 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Procore Technologies in the 2nd quarter worth about $51,000. Finally, International Assets Investment Management LLC lifted its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares during the last quarter. 81.10% of the stock is owned by 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.