Analysts Set Procore Technologies, Inc. (NYSE:PCOR) PT at $82.53

Procore Technologies, Inc. (NYSE:PCOR) has been assigned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $82.15.

A number of brokerages recently weighed in on PCOR. TD Cowen cut their price objective on Procore Technologies from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Robert W. Baird increased their price target on Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Barclays upgraded shares of Procore Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $82.00 to $90.00 in a research note on Monday, January 5th. UBS Group lowered their target price on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Finally, KeyCorp cut their target price on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, February 6th.

Procore Technologies Price Performance

NYSE PCOR opened at $52.58 on Friday. Procore Technologies has a fifty-two week low of $49.40 and a fifty-two week high of $88.92. The stock’s 50-day moving average is $68.81 and its two-hundred day moving average is $70.29. The firm has a market cap of $8.17 billion, a P/E ratio of -62.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33.

Insider Buying and Selling at Procore Technologies

In other news, Director William J.G. Griffith sold 207,474 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the completion of the transaction, the director directly owned 3,244,546 shares in the company, valued at $234,580,675.80. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $71.91, for a total transaction of $21,573,000.00. Following the completion of the sale, the chairman owned 677,796 shares in the company, valued at approximately $48,740,310.36. The trade was a 30.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 626,007 shares of company stock worth $45,195,098 in the last ninety days. 21.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PCOR. Global Retirement Partners LLC increased its stake in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after acquiring an additional 321 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Procore Technologies in the third quarter valued at $34,000. Jones Financial Companies Lllp grew its position in Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares during the period. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the fourth quarter worth $41,000. Finally, Allworth Financial LP lifted its holdings in shares of 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 acquiring an additional 204 shares during the period. 81.10% of the stock is 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. 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.