Barclays Lowers Procore Technologies (NYSE:PCOR) Price Target to $70.00

Procore Technologies (NYSE:PCOR) had its price objective cut by research analysts at Barclays from $90.00 to $70.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 15.97% from the company’s current price.

PCOR has been the topic of a number of other research reports. Jefferies Financial Group lowered their price target on Procore Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Canaccord Genuity Group raised their target price on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. UBS Group raised their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 14th. KeyCorp upped their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Macquarie dropped their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.47.

Procore Technologies Trading Down 0.4 %

NYSE PCOR traded down $0.24 during trading on Monday, hitting $60.36. The stock had a trading volume of 530,806 shares, compared to its average volume of 1,728,275. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of -83.83 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies has a one year low of $49.46 and a one year high of $88.92. The stock has a 50 day simple moving average of $71.63 and a 200 day simple moving average of $72.33.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Sell-side analysts predict that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the sale, the chief financial officer now directly owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now directly owns 83,039 shares of the company’s stock, valued at approximately $6,477,042. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,176 shares of company stock valued at $5,486,304. Company insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after acquiring an additional 2,670,872 shares during the last quarter. Capital World Investors raised its holdings in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after purchasing an additional 2,555,612 shares during the period. Wellington Management Group LLP acquired a new position in shares of Procore Technologies in the 4th quarter valued at about $131,840,000. Assenagon Asset Management S.A. grew its holdings in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after purchasing an additional 1,425,967 shares during the period. Finally, Champlain Investment Partners LLC acquired a new stake in Procore Technologies during the 4th quarter worth approximately $105,747,000. 81.10% of the stock is owned by hedge funds and other 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.