Procore Technologies (NYSE:PCOR) Price Target Raised to $84.00 at Stifel Nicolaus

Procore Technologies (NYSE:PCOR) had its target price boosted by Stifel Nicolaus from $70.00 to $84.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

PCOR has been the topic of a number of other research reports. Jefferies Financial Group increased their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. TD Cowen increased their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JMP Securities reduced their target price on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. 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. Finally, The Goldman Sachs Group reduced their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Five 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Stock Up 4.6 %

NYSE PCOR opened at $80.24 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 company has a market capitalization of $11.93 billion, a P/E ratio of -160.48 and a beta of 0.71. Procore Technologies has a one year low of $49.46 and a one year high of $83.35. The stock has a 50 day moving average price of $64.64 and a 200-day moving average price of $64.00.

Procore Technologies (NYSE:PCOR) last posted its 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 return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. As a group, equities analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the transaction, the director now owns 1,371,104 shares in the company, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $107,625.00. Following the transaction, the chief financial officer now owns 171,997 shares in the company, valued at $12,340,784.75. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,053 shares of company stock valued at $7,426,909. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Several hedge funds have recently modified their holdings of PCOR. Dragoneer Investment Group LLC lifted its holdings in shares of Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after buying an additional 1,609,607 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Procore Technologies by 27,239.5% in the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after buying an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at approximately $88,572,000. XN LP lifted its holdings in shares of Procore Technologies by 101.1% in the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares during the period. Finally, PointState Capital LP acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at approximately $81,306,000. 81.10% of the stock is 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.