Procore Technologies (NYSE:PCOR – Get Free Report) had its price objective hoisted by analysts at Piper Sandler from $90.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 25.74% from the stock’s previous close.
PCOR has been the subject of several other reports. Mizuho boosted their price objective on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, December 13th. KeyCorp boosted their price objective on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted their price objective on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Scotiabank boosted their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Finally, Barclays upped their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.65.
Check Out Our Latest Research Report on PCOR
Procore Technologies Trading Up 16.5 %
Procore Technologies (NYSE:PCOR – Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Equities analysts forecast that Procore Technologies will post -0.22 earnings per share for the current fiscal year.
Insider Transactions at Procore Technologies
In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the sale, the chief executive officer now owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,656 shares of company stock worth $8,776,297. Company insiders own 29.00% of the company’s stock.
Institutional Investors Weigh In On Procore Technologies
A number of institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in Procore Technologies in the fourth quarter worth approximately $273,000. Comerica Bank lifted its position in Procore Technologies by 87.0% in the fourth quarter. Comerica Bank now owns 131,316 shares of the company’s stock worth $9,839,000 after purchasing an additional 61,082 shares during the period. Northern Trust Corp increased its holdings in shares of Procore Technologies by 17.0% in the fourth quarter. Northern Trust Corp now owns 594,668 shares of the company’s stock valued at $44,558,000 after buying an additional 86,192 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Procore Technologies in the fourth quarter valued at $10,345,000. Finally, Science & Technology Partners L.P. bought a new position in shares of Procore Technologies in the fourth quarter valued at $25,558,000. 81.10% of the stock is currently 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.
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