Procore Technologies (NYSE:PCOR) PT Lowered to $78.00 at Barclays

Procore Technologies (NYSE:PCOR) had its target price dropped by analysts at Barclays from $83.00 to $78.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 10.73% from the stock’s current price.

PCOR has been the subject of a number of other reports. Stifel Nicolaus raised their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. BMO Capital Markets cut their target price on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group increased their target price on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, KeyCorp lifted their price target on Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.14.

Procore Technologies Stock Up 3.2 %

NYSE PCOR traded up $2.20 during midday trading on Thursday, hitting $70.44. 1,869,998 shares of the company traded hands, compared to its average volume of 1,242,651. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $10.31 billion, a PE ratio of -53.37 and a beta of 0.78. The company’s 50-day simple moving average is $76.44 and its 200-day simple moving average is $68.91. Procore Technologies has a 52 week low of $48.11 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The firm had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million. As a group, equities research analysts forecast that Procore Technologies will post -0.64 earnings per share for the current year.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the transaction, the senior vice president now owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Howard Fu sold 1,441 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the transaction, the chief financial officer now owns 192,178 shares in the company, valued at approximately $13,648,481.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $446,429.90. Following the completion of the transaction, the senior vice president now owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The disclosure for this sale can be found here. Insiders sold a total of 467,672 shares of company stock valued at $36,612,454 in the last 90 days. 39.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Procore Technologies by 13.2% in the third quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock valued at $557,746,000 after purchasing an additional 995,757 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Procore Technologies by 31.8% during the third quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock worth $9,101,000 after purchasing an additional 33,590 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Procore Technologies by 1.9% during the third quarter. Rhumbline Advisers now owns 111,137 shares of the company’s stock worth $7,259,000 after purchasing an additional 2,073 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Procore Technologies during the third quarter worth $2,922,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in shares of Procore Technologies during the third quarter worth $7,328,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.