DA Davidson Cuts Procore Technologies (NYSE:PCOR) Price Target to $55.00

Procore Technologies (NYSE:PCOR) had its target price lowered by research analysts at DA Davidson from $75.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential upside of 5.08% from the stock’s previous close.

PCOR has been the topic of several other research reports. Barclays reduced their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday. BTIG Research reduced their target price on Procore Technologies from $88.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp lowered their target price on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. TD Cowen boosted their price target on Procore Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group decreased their price objective on Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday. Seventeen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.95.

Procore Technologies Stock Performance

NYSE PCOR traded up $4.46 during trading hours on Friday, hitting $52.34. The company had a trading volume of 4,785,403 shares, compared to its average volume of 2,599,605. The business has a 50 day moving average of $67.68 and a 200-day moving average of $69.99. The company has a market cap of $8.14 billion, a PE ratio of -62.24 and a beta of 0.89. Procore Technologies has a 1-year low of $46.08 and a 1-year high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $349.11 million during the quarter, compared to analysts’ expectations of $340.80 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $0.01 EPS. As a group, equities research analysts expect that Procore Technologies will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the transaction, the chairman directly owned 1,155,480 shares in the company, valued at $84,003,396. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Lawrence Joseph Stack sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $75.30, for a total transaction of $753,000.00. Following the sale, the executive owned 184,128 shares in the company, valued at $13,864,838.40. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 616,392 shares of company stock valued at $44,460,801. Corporate insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in Procore Technologies by 465.2% during the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after purchasing an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Procore Technologies during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp increased its stake in shares of Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Procore Technologies during the fourth quarter valued at $41,000. Finally, Allworth Financial LP boosted its position in Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Q4 earnings and revenue beat — Procore reported $0.37 EPS vs. $0.35 consensus and revenue of $349.1M (up 15.6% y/y), a clear fundamental positive that supports upside potential. Zacks: Procore Beats Q4
• Positive Sentiment: Analyst upgrade/price-target increase — TD Cowen raised its PT from $80 to $85 and keeps a “buy” rating, signaling continued conviction in Procore’s growth trajectory and contributing to buying interest. TD Cowen raise (Benzinga)
• Neutral Sentiment: Guidance mixed/inline — Procore issued FY and Q1 revenue guidance roughly in line with consensus (Q1 revenue guided to ~$351.0M–$353.0M vs. $349M consensus; FY revenue ~ $1.5B). Guidance reduces uncertainty but did not materially outpace expectations. Press Release / Guidance
• Negative Sentiment: Piper Sandler cut its price target from $91 to $79 (still “overweight”), trimming upside expectations and likely capping some investor enthusiasm. Piper Sandler cut (Benzinga)
• Negative Sentiment: Barclays lowered its target from $90 to $65 while maintaining an “overweight” stance, a notable reduction that signals more conservative near-term valuation assumptions. Barclays cut (Benzinga)
• Negative Sentiment: Stifel trimmed its target from $85 to $63 (remains “buy”), another downward revision that may pressure sentiment despite the buy rating. Stifel cut (Benzinga) TickerReport
• Negative Sentiment: BTIG reduced its PT from $88 to $66 (keeps “buy”), another analyst trimming upside that adds to the mixed sell-side response. BTIG cut (Benzinga) TickerReport
• Negative Sentiment: KeyBanc also trimmed its target to $80, contributing to the cluster of downward PT revisions today. KeyBanc cut (MSN)

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.