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

Procore Technologies (NYSE:PCOR) had its price target lifted by Canaccord Genuity Group from $67.00 to $83.00 in a report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. Barclays increased their target price on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday. Piper Sandler lifted their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Scotiabank reduced their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Finally, KeyCorp boosted their price target on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Trading Up 4.6 %

Shares of PCOR opened at $80.24 on Friday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $64.64 and its 200-day simple moving average is $64.00. The company has a market cap of $11.93 billion, a P/E ratio of -160.48 and a beta of 0.71.

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

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the sale, the director now directly owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Howard Fu sold 7,809 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $557,250.24. Following the sale, the chief financial officer now owns 164,188 shares in the company, valued at $11,716,455.68. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,053 shares of company stock valued at $7,426,909. 29.00% of the stock is currently owned by insiders.

Institutional Trading of Procore Technologies

A number of institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Procore Technologies during the first quarter valued at $5,177,000. Bamco Inc. NY increased its position in shares of Procore Technologies by 756.8% in the 1st quarter. Bamco Inc. NY now owns 499,559 shares of the company’s stock valued at $41,049,000 after acquiring an additional 441,256 shares during the period. Untitled Investments LP purchased a new position in Procore Technologies in the 1st quarter worth $1,336,000. Finally, Silvercrest Asset Management Group LLC lifted its position in Procore Technologies by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 29,152 shares of the company’s stock worth $2,395,000 after acquiring an additional 495 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

About Procore Technologies

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.