Procore Technologies (NYSE:PCOR) Given New $85.00 Price Target at BMO Capital Markets

Procore Technologies (NYSE:PCOR) had its price objective cut by investment analysts at BMO Capital Markets from $90.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 24.74% from the stock’s previous close.

A number of other equities research analysts have also recently commented on PCOR. JMP Securities raised their target price on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. Stifel Nicolaus raised their price objective on Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Mizuho decreased their target price on Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, KeyCorp lifted their price target on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.79.

Procore Technologies Stock Performance

NYSE:PCOR traded down $1.09 during trading hours on Thursday, reaching $68.14. The company had a trading volume of 2,743,638 shares, compared to its average volume of 1,400,051. The firm has a market cap of $9.87 billion, a PE ratio of -70.98 and a beta of 0.78. Procore Technologies has a 1-year low of $48.11 and a 1-year high of $83.35. The business’s 50 day moving average price is $76.24 and its 200-day moving average price is $68.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49.

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, beating the consensus estimate of ($0.26) by $0.13. The firm had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. Research analysts forecast that Procore Technologies will post -0.64 EPS for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the transaction, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at approximately $13,648,481.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procore Technologies news, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the sale, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at approximately $13,648,481.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $72.21, for a total transaction of $370,292.88. Following the transaction, the director now directly owns 1,543,037 shares in the company, valued at approximately $111,422,701.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 538,672 shares of company stock valued at $41,509,564. Corporate insiders own 39.20% of the company’s stock.

Institutional Trading of Procore Technologies

Several hedge funds have recently made changes to their positions in the company. BluePath Capital Management LLC purchased a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $36,000. International Assets Investment Management LLC raised its position in Procore Technologies by 6,823.1% in the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Procore Technologies in the 4th quarter valued at $62,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings 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 worth $104,000 after purchasing an additional 297 shares during the period. Finally, TFO Wealth Partners LLC raised its holdings in Procore Technologies by 43,600.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after buying an additional 2,180 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.