Procore Technologies (NYSE:PCOR) Price Target Raised to $90.00 at Barclays

Procore Technologies (NYSE:PCOR) had its target price lifted by equities research analysts at Barclays from $84.00 to $90.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 7.45% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp raised their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Piper Sandler upped their price objective on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of Procore Technologies in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

Procore Technologies Price Performance

Shares of PCOR traded up $8.66 during trading hours on Friday, hitting $83.76. The stock had a trading volume of 897,000 shares, compared to its average volume of 1,109,830. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $86.67. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of -165.64 and a beta of 0.84. The company’s fifty day moving average is $77.54 and its two-hundred day moving average is $68.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, analysts anticipate that Procore Technologies will post -0.22 EPS for the current year.

Insider Buying and Selling

In other news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the transaction, the chief executive officer now owns 770,458 shares in the company, valued at $54,979,882.88. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the 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 $190,388.48. Following the sale, the senior vice president now directly owns 72,605 shares of the company’s stock, valued at approximately $5,181,092.80. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,656 shares of company stock valued at $8,776,297 in the last 90 days. 29.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in Procore Technologies during the 3rd quarter worth about $26,000. Versant Capital Management Inc raised its stake in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 147 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. Institutional investors and hedge funds 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.