Barclays Forecasts Strong Price Appreciation for Procore Technologies (NYSE:PCOR) Stock

Procore Technologies (NYSE:PCOR) had its price target lifted by Barclays from $66.00 to $78.00 in a research report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. JMP Securities reduced their price target on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. DA Davidson reiterated a “neutral” rating and issued a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price target on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group upped their price objective on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Finally, Robert W. Baird started coverage on Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price on the stock. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Trading Up 4.6 %

NYSE:PCOR opened at $80.24 on Friday. The company has a market cap of $11.93 billion, a PE ratio of -160.48 and a beta of 0.71. 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 has a 50 day simple moving average of $64.64 and a two-hundred day simple moving average of $64.00. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $83.35.

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

Insider Activity at Procore Technologies

In other news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the sale, the chief executive officer now directly owns 770,458 shares in the company, valued at $54,979,882.88. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Howard Fu sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the transaction, the chief financial officer now directly owns 171,997 shares of the company’s stock, valued at approximately $12,340,784.75. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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 modified their holdings of PCOR. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in Procore Technologies during the third quarter valued at $26,000. Signaturefd LLC increased its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. International Assets Investment Management LLC lifted its holdings 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 acquiring an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Procore Technologies in the 2nd quarter worth about $51,000. 81.10% of the stock is owned by institutional investors.

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.