Procore Technologies (NYSE:PCOR) Price Target Raised to $75.00 at Mizuho

Procore Technologies (NYSE:PCOR) had its target price boosted by equities researchers at Mizuho from $65.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential downside of 8.07% from the stock’s current price.

A number of other analysts also recently issued reports on PCOR. Stifel Nicolaus raised their price target on Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays upped their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. KeyCorp raised their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, TD Cowen boosted their target price on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $83.71.

Procore Technologies Trading Up 0.5 %

PCOR stock opened at $81.59 on Friday. The firm has a market cap of $12.13 billion, a PE ratio of -163.17 and a beta of 0.82. The firm has a fifty day moving average price of $70.43 and a 200 day moving average price of $65.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $86.67.

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

Insider Buying and Selling at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now owns 75,120 shares of the company’s stock, valued at approximately $5,314,740. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,295 shares of company stock valued at $11,185,742 in the last ninety days. Corporate insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP grew its holdings in Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after purchasing an additional 272,030 shares during the last quarter. Advantage Alpha Capital Partners LP increased its position in Procore Technologies by 30.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock valued at $7,825,000 after buying an additional 29,431 shares in the last quarter. Pathstone Holdings LLC raised its stake in Procore Technologies by 804.3% in the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock valued at $8,999,000 after buying an additional 129,679 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Procore Technologies by 118.0% in the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock worth $1,158,000 after acquiring an additional 9,454 shares in the last quarter. Finally, Long Path Partners LP grew its stake in shares of Procore Technologies by 5.8% during the third quarter. Long Path Partners LP now owns 358,050 shares of the company’s stock worth $22,099,000 after acquiring an additional 19,547 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.