Procore Technologies (NYSE:PCOR) Price Target Raised to $83.00 at Canaccord Genuity Group

Procore Technologies (NYSE:PCOR) had its price target raised by equities research analysts at Canaccord Genuity Group from $67.00 to $83.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 8.24% from the company’s current price.

PCOR has been the topic of a number of other reports. DA Davidson reiterated a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a research note on Wednesday, October 2nd. Barclays upped their price target on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday. BMO Capital Markets boosted their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler increased their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group boosted their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Trading Up 1.9 %

Shares of Procore Technologies stock opened at $76.68 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $11.40 billion, a P/E ratio of -153.36 and a beta of 0.71. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $83.35. The stock’s 50-day simple moving average is $64.19 and its 200 day simple moving average is $63.94.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting 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 analysts’ expectations of $287.42 million. As a group, research analysts anticipate that Procore Technologies will post -0.23 EPS for the current year.

Insider Activity

In related news, CFO Howard Fu sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now directly owns 171,997 shares in the company, valued at $12,340,784.75. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the sale, the senior vice president now owns 75,120 shares of the company’s stock, valued at $5,314,740. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,053 shares of company stock valued at $7,426,909. Corporate insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently added to or reduced their stakes in PCOR. GAMMA Investing LLC raised its stake in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Procore Technologies during the 3rd quarter valued at approximately $26,000. Signaturefd LLC lifted its holdings in 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 period. International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Procore Technologies during the second quarter valued at approximately $51,000. 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.