Procore Technologies (NYSE:PCOR) Price Target Raised to $97.00 at Canaccord Genuity Group

Procore Technologies (NYSE:PCOR) had its price objective boosted by analysts at Canaccord Genuity Group from $83.00 to $97.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 10.88% from the company’s current price.

A number of other research firms have also recently commented on PCOR. Stifel Nicolaus increased their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Scotiabank increased their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. Piper Sandler increased their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday. Finally, BMO Capital Markets increased their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Trading Up 16.5 %

PCOR opened at $87.48 on Friday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $87.90. The company has a 50-day simple moving average of $77.63 and a 200 day simple moving average of $68.60. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of -174.96 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Analysts predict that Procore Technologies will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,668 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the completion of the sale, the senior vice president now owns 72,605 shares of the company’s stock, valued at approximately $5,181,092.80. This represents a 3.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $76.77, for a total value of $492,095.70. Following the transaction, the director now owns 1,231,368 shares in the company, valued at $94,532,121.36. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,656 shares of company stock valued at $8,776,297. 29.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC boosted its holdings in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after buying an additional 129 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after buying an additional 143 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares in the last quarter. Finally, Tanager Wealth Management LLP boosted its holdings in shares of Procore Technologies by 1.3% during the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock worth $787,000 after buying an additional 168 shares in the last quarter. 81.10% of the stock is currently owned by 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.