Procore Technologies (NYSE:PCOR) Price Target Lowered to $71.00 at Piper Sandler

Procore Technologies (NYSE:PCOR) had its target price lowered by Piper Sandler from $79.00 to $71.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

PCOR has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research note on Thursday, January 22nd. BMO Capital Markets decreased their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Citizens Jmp upgraded shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 target price for the company in a research note on Wednesday, April 29th. BTIG Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Procore Technologies in a report on Wednesday. Finally, DA Davidson lowered their target price on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.88.

Procore Technologies Stock Down 2.9%

Shares of NYSE:PCOR opened at $53.09 on Wednesday. The stock has a market cap of $8.01 billion, a P/E ratio of -104.11 and a beta of 0.78. The firm has a fifty day moving average price of $55.72 and a 200 day moving average price of $64.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32. Procore Technologies has a 1-year low of $46.08 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $359.28 million for the quarter, compared to analyst estimates of $352.82 million. Procore Technologies had a negative return on equity of 2.23% and a negative net margin of 5.61%.The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Sell-side analysts predict that Procore Technologies will post 0.09 EPS for the current year.

Insider Activity

In other news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $47.64, for a total value of $2,673,652.08. Following the sale, the chairman owned 927,580 shares of the company’s stock, valued at $44,189,911.20. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider directly owned 64,660 shares in the company, valued at approximately $3,233,000. The trade was a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 148,026 shares of company stock valued at $7,783,734 over the last quarter. Corporate insiders own 16.80% 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 stock. Vanguard Group Inc. lifted its stake in shares of Procore Technologies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock valued at $957,150,000 after purchasing an additional 804,920 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Procore Technologies by 493.9% in the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after purchasing an additional 5,079,534 shares during the period. Wasatch Advisors LP lifted its stake in shares of Procore Technologies by 6.8% in the third quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after purchasing an additional 315,604 shares during the period. Wellington Management Group LLP lifted its stake in shares of Procore Technologies by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 3,539,062 shares of the company’s stock valued at $257,431,000 after purchasing an additional 137,171 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Procore Technologies by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company’s stock valued at $249,416,000 after purchasing an additional 127,256 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Trending Headlines about Procore Technologies

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

• Positive Sentiment: Revenue beat and strong top‑line growth — Q1 revenue of $359.3M topped consensus and was up ~15.7% year‑over‑year; management said results exceeded the high end of guidance and raised the full‑year outlook. Business Wire: Q1 Financial Results
• Positive Sentiment: Analysts remain constructive despite trims — UBS kept a Buy but cut its PT to $68, BTIG reaffirmed Buy with a $66 target, and Piper Sandler remains Overweight with a $71 PT. These ratings imply meaningful upside from current levels. Benzinga: Analyst Notes TickerReport: Piper Sandler
• Positive Sentiment: Strategic signal — coverage noted a narrower loss and a new AI board appointment that investors viewed as a positive step for product/strategy execution. Yahoo: Why PCOR Is Up 11.6%
• Neutral Sentiment: Q2 revenue guide roughly in line with consensus — management gave revenue guidance of $364–$366M vs. consensus ~$366.1M, leaving limited upside from guidance alone. Procore Q1 Release / Guidance
• Negative Sentiment: EPS missed expectations — reported EPS $0.34 vs. consensus $0.36, and the business still shows negative net margin and return on equity, which keeps profitability improvement a near‑term focus. Zacks: EPS Miss MarketBeat: Earnings Details
• Negative Sentiment: Market reaction and volume — shares are trading down on the day with above‑average volume, suggesting investor focus on the EPS miss and trimmed analyst targets despite the revenue beat. MarketBeat: PCOR Quote

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.