Procore Technologies (NYSE:PCOR) Price Target Cut to $75.00

Procore Technologies (NYSE:PCOR) had its price target reduced by Mizuho from $80.00 to $75.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on the stock. JMP Securities lifted their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a market outperform rating in a research report on Friday, February 16th. Piper Sandler lifted their price target on Procore Technologies from $77.00 to $80.00 and gave the stock an overweight rating in a report on Friday, February 16th. KeyCorp upped their price objective on Procore Technologies from $85.00 to $95.00 and gave the company an overweight rating in a research note on Friday, February 16th. BMO Capital Markets lifted their target price on Procore Technologies from $76.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $76.00 to $81.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Procore Technologies has an average rating of Moderate Buy and an average price target of $81.79.

Procore Technologies Price Performance

NYSE PCOR opened at $68.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day simple moving average of $76.35 and a 200 day simple moving average of $68.92. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. The firm had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million. As a group, equities research analysts expect that Procore Technologies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the sale, the senior vice president now directly owns 77,768 shares in the company, valued at $5,747,055.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the transaction, the senior vice president now directly owns 77,768 shares in the company, valued at approximately $5,747,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the transaction, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 538,672 shares of company stock valued at $41,509,564. Company insiders own 39.20% of the company’s stock.

Institutional Trading of Procore Technologies

A number of large investors have recently modified their holdings of PCOR. BluePath Capital Management LLC purchased a new stake in Procore Technologies in the third quarter valued at approximately $36,000. International Assets Investment Management LLC grew its stake in Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after buying an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Procore Technologies in the 4th quarter worth $62,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after buying an additional 297 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Procore Technologies by 43,600.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock worth $151,000 after acquiring an additional 2,180 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

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.