Robert W. Baird Boosts Procore Technologies (NYSE:PCOR) Price Target to $96.00

Procore Technologies (NYSE:PCOR) had its price target increased by stock analysts at Robert W. Baird from $87.00 to $96.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 21.80% from the stock’s current price.

Several other research analysts have also commented on PCOR. TD Cowen boosted their price objective on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. JMP Securities boosted their target price on Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Monday, December 2nd. Scotiabank increased their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. Finally, UBS Group began coverage on Procore Technologies in a research note on Monday, December 2nd. They set a “buy” rating and a $105.00 price target on the stock. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.71.

Procore Technologies Stock Down 3.4 %

Shares of NYSE PCOR opened at $78.82 on Thursday. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The stock’s fifty day simple moving average is $70.80 and its two-hundred day simple moving average is $65.31. The stock has a market capitalization of $11.72 billion, a PE ratio of -157.64 and a beta of 0.82. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, analysts expect that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 75,120 shares of the company’s stock, valued at $5,314,740. This trade represents a 16.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the transaction, the director now owns 1,282,648 shares of the company’s stock, valued at approximately $105,087,350.64. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,295 shares of company stock worth $11,185,742. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently modified their holdings of PCOR. GAMMA Investing LLC boosted its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies during the 3rd quarter valued at approximately $26,000. Signaturefd LLC grew its stake in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the period. International Assets Investment Management LLC grew its stake in Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC acquired a new position in Procore Technologies during the second quarter worth $51,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.