Procore Technologies (NYSE:PCOR - Get Free Report) had its target price upped by research analysts at The Goldman Sachs Group from $73.00 to $83.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price target would suggest a potential upside of 9.08% from the company's previous close.
Other research analysts have also recently issued research reports about the stock. Scotiabank decreased their price objective on shares of Procore Technologies from $90.00 to $70.00 and set a "sector outperform" rating for the company in a report on Friday, August 2nd. KeyCorp increased their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday. Barclays boosted their target price on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Friday. Macquarie reiterated a "neutral" rating and issued a $70.00 price target on shares of Procore Technologies in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Procore Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.75.
Get Our Latest Research Report on Procore Technologies
NYSE PCOR traded up $0.86 on Friday, reaching $76.09. 582,998 shares of the stock traded hands, compared to its average volume of 1,579,401. The firm's fifty day simple moving average is $63.82 and its 200 day simple moving average is $63.92. The company has a market cap of $11.31 billion, a price-to-earnings ratio of -151.58 and a beta of 0.71. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $83.35. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.
Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, research analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.
In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the completion of the sale, the senior vice president now owns 75,120 shares of the company's stock, valued at $5,314,740. The trade was a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Howard Fu sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total value of $107,625.00. Following the sale, the chief financial officer now owns 171,997 shares of the company's stock, valued at $12,340,784.75. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,997 shares of company stock worth $4,497,153. 29.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PCOR. CIBC Asset Management Inc increased its position in shares of Procore Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company's stock worth $259,000 after acquiring an additional 143 shares during the period. Tanager Wealth Management LLP boosted its position in Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company's stock valued at $834,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company's stock valued at $25,000 after acquiring an additional 175 shares during the period. Taylor Frigon Capital Management LLC raised its position in shares of Procore Technologies by 0.3% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company's stock worth $3,570,000 after acquiring an additional 180 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company's stock worth $42,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.
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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