Procore Technologies (NYSE:PCOR - Get Free Report) had its price objective raised by Stifel Nicolaus from $70.00 to $84.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 10.40% from the company's previous close.
Several other equities research analysts have also commented on PCOR. KeyCorp boosted their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday. DA Davidson reaffirmed a "neutral" rating and set a $60.00 price objective on shares of Procore Technologies in a research report on Wednesday, October 2nd. TD Cowen upped their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, October 28th. JMP Securities cut their target price on Procore Technologies from $82.00 to $75.00 and set a "market outperform" rating on the stock in a research report on Thursday, October 31st. Finally, Robert W. Baird initiated coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They issued an "outperform" rating and a $73.00 price target for the company. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $76.75.
Check Out Our Latest Analysis on PCOR
Shares of NYSE PCOR traded up $0.86 during midday trading on Friday, reaching $76.09. 582,998 shares of the stock were exchanged, compared to its average volume of 1,579,401. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of -151.58 and a beta of 0.71. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $83.35. The firm has a 50-day simple moving average of $63.82 and a two-hundred day simple moving average of $63.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.
Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.11). The company 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 anticipate that Procore Technologies will post -0.23 EPS for the current fiscal year.
In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of Procore Technologies stock in a transaction dated 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. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the sale, the director now owns 1,371,104 shares of the company's stock, valued at approximately $79,606,298.24. The trade was a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,997 shares of company stock worth $4,497,153 over the last ninety days. Insiders own 29.00% of the company's stock.
Hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC increased its holdings in shares of Procore Technologies by 16.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company's stock valued at $580,000 after purchasing an additional 1,266 shares in the last quarter. M&G Plc lifted its holdings in Procore Technologies by 12.4% during the 2nd quarter. M&G Plc now owns 120,626 shares of the company's stock worth $7,961,000 after buying an additional 13,334 shares during the last quarter. Burney Co. acquired a new position in Procore Technologies during the 1st quarter valued at approximately $1,371,000. SG Americas Securities LLC boosted its position in shares of Procore Technologies by 118.0% during the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company's stock worth $1,158,000 after buying an additional 9,454 shares during the period. Finally, Dragoneer Investment Group LLC lifted its stake 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 worth $148,762,000 after acquiring an additional 1,609,607 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.
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.
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