BMO Capital Markets Boosts Procore Technologies (NYSE:PCOR) Price Target to $87.00

Procore Technologies (NYSE:PCOR) had its target price lifted by investment analysts at BMO Capital Markets from $82.00 to $87.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 9.23% from the company’s previous close.

Several other analysts have also issued reports on the company. Robert W. Baird increased their target price on Procore Technologies from $83.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. DA Davidson began coverage on shares of Procore Technologies in a research note on Monday, August 4th. They set a “neutral” rating and a $70.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 1st. Citizens Jmp downgraded shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 1st. Finally, William Blair reiterated an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. Fifteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $84.26.

Procore Technologies Trading Up 0.7%

Shares of NYSE:PCOR opened at $79.65 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies has a 12 month low of $53.71 and a 12 month high of $88.92. The company’s fifty day simple moving average is $72.22 and its 200 day simple moving average is $69.37. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of -94.82 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.17%. The company had revenue of $172.21 million during the quarter. As a group, research analysts forecast that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 814 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $72.34, for a total transaction of $58,884.76. Following the sale, the chief financial officer owned 187,847 shares of the company’s stock, valued at approximately $13,588,851.98. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $70.56, for a total transaction of $542,747.52. Following the transaction, the director owned 1,115,637 shares of the company’s stock, valued at $78,719,346.72. This trade represents a 0.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,724 shares of company stock worth $2,122,519 over the last quarter. Corporate insiders own 21.50% of the company’s stock.

Institutional Trading of Procore Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas grew its holdings in Procore Technologies by 89.5% during the 1st quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company’s stock worth $1,318,000 after acquiring an additional 9,428 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Procore Technologies by 5.5% during the second quarter. US Bancorp DE now owns 21,638 shares of the company’s stock worth $1,480,000 after purchasing an additional 1,131 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Procore Technologies by 87.4% during the first quarter. Brown Advisory Inc. now owns 12,943 shares of the company’s stock worth $854,000 after purchasing an additional 6,038 shares during the period. Amalgamated Bank grew its stake in shares of Procore Technologies by 4.2% in the first quarter. Amalgamated Bank now owns 7,374 shares of the company’s stock worth $487,000 after purchasing an additional 295 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in Procore Technologies by 15.4% in the first quarter. Fred Alger Management LLC now owns 38,349 shares of the company’s stock valued at $2,532,000 after purchasing an additional 5,129 shares during the period. 81.10% of the stock is currently owned by institutional investors.

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.