Procore Technologies (NYSE:PCOR) Price Target Raised to $78.00 at Barclays

Procore Technologies (NYSE:PCOR) had its price objective hoisted by Barclays from $66.00 to $78.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently commented on PCOR. KeyCorp lowered their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus decreased their price target on Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird began coverage on Procore Technologies in a research note on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price objective for the company. JMP Securities dropped their price objective on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen lifted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Trading Up 1.9 %

NYSE:PCOR opened at $76.68 on Friday. 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 firm has a fifty day simple moving average of $64.19 and a two-hundred day simple moving average of $63.92. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of -153.36 and a beta of 0.71. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $83.35.

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

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were 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 of the company’s stock, valued at approximately $79,606,298.24. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. This trade represents a 16.64 % 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. 29.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. acquired a new position in shares of Procore Technologies in the 3rd quarter valued at $235,000. Geode Capital Management LLC raised its position in shares of Procore Technologies by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company’s stock worth $105,967,000 after purchasing an additional 168,769 shares during the last quarter. Bullseye Asset Management LLC lifted its position in shares of Procore Technologies by 50.0% in the third quarter. Bullseye Asset Management LLC now owns 14,993 shares of the company’s stock valued at $925,000 after acquiring an additional 5,000 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Procore Technologies during the third quarter worth $250,000. Finally, Barclays PLC raised its holdings in Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after acquiring an additional 22,734 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.