BMO Capital Markets Lowers Procore Technologies (NYSE:PCOR) Price Target to $85.00

Procore Technologies (NYSE:PCOR) had its price objective dropped by BMO Capital Markets from $90.00 to $85.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 24.74% from the company’s current price.

PCOR has been the topic of several other reports. KeyCorp boosted their target price on Procore Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Stifel Nicolaus increased their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Piper Sandler decreased their target price on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group increased their price target on shares of Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Procore Technologies from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Three equities research 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.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $81.79.

Procore Technologies Stock Down 1.6 %

Shares of Procore Technologies stock traded down $1.09 during trading on Thursday, hitting $68.14. The company’s stock had a trading volume of 2,743,638 shares, compared to its average volume of 1,400,051. Procore Technologies has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a market capitalization of $9.87 billion, a PE ratio of -70.98 and a beta of 0.78. The company has a fifty day simple moving average of $76.24 and a two-hundred day simple moving average of $68.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. The business had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. Equities research analysts predict that Procore Technologies will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In other Procore Technologies news, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the transaction, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at $13,648,481.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procore Technologies news, CFO Howard Fu sold 1,441 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total transaction of $102,339.82. Following the completion of the sale, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at $13,648,481.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Monday, February 5th. The stock was sold at an average price of $72.21, for a total transaction of $370,292.88. Following the transaction, the director now owns 1,543,037 shares in the company, valued at approximately $111,422,701.77. The disclosure for this sale can be found here. Insiders sold 538,672 shares of company stock valued at $41,509,564 over the last 90 days. Company insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Xponance Inc. boosted its holdings in Procore Technologies by 4.4% in the 3rd quarter. Xponance Inc. now owns 11,364 shares of the company’s stock worth $742,000 after buying an additional 481 shares during the period. Raymond James & Associates bought a new position in shares of Procore Technologies in the third quarter worth about $261,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Procore Technologies during the 3rd quarter worth approximately $304,000. Bank of New York Mellon Corp boosted its position in shares of Procore Technologies by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock valued at $29,686,000 after acquiring an additional 17,111 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Procore Technologies by 32.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock valued at $1,073,000 after purchasing an additional 3,992 shares in the last quarter. 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.