KeyCorp Raises Procore Technologies (NYSE:PCOR) Price Target to $85.00

Procore Technologies (NYSE:PCORFree Report) had its target price increased by KeyCorp from $77.00 to $85.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on PCOR. JMP Securities raised their target price on Procore Technologies from $69.00 to $81.00 and gave the stock a market outperform rating in a research report on Monday, February 5th. DA Davidson lifted their price target on Procore Technologies from $75.00 to $85.00 and gave the stock a buy rating in a research note on Monday, February 5th. Mizuho decreased their price objective on Procore Technologies from $85.00 to $75.00 and set a buy rating on the stock in a report on Friday, November 3rd. Barclays decreased their price objective on Procore Technologies from $87.00 to $71.00 and set an overweight rating on the stock in a report on Thursday, November 2nd. Finally, The Goldman Sachs Group decreased their price objective on Procore Technologies from $85.00 to $74.00 and set a buy rating on the stock in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $75.87.

Read Our Latest Analysis on Procore Technologies

Procore Technologies Stock Performance

Shares of PCOR opened at $73.27 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of -44.68 and a beta of 0.67. The stock has a 50 day moving average of $68.26 and a 200 day moving average of $64.84. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $76.86.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $59.91, for a total transaction of $4,073,880.00. Following the sale, the chief executive officer now directly owns 539,799 shares of the company’s stock, valued at approximately $32,339,358.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $59.91, for a total value of $4,073,880.00. Following the sale, the chief executive officer now directly owns 539,799 shares of the company’s stock, valued at approximately $32,339,358.09. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 29,514 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total value of $1,651,308.30. Following the completion of the sale, the chief executive officer now directly owns 813,493 shares in the company, valued at $45,514,933.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 333,048 shares of company stock valued at $20,947,275. 39.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Makena Capital Management LLC boosted its holdings in shares of Procore Technologies by 21.5% during the 4th quarter. Makena Capital Management LLC now owns 252,517 shares of the company’s stock valued at $17,479,000 after purchasing an additional 44,685 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Procore Technologies by 1,666.8% during the 4th quarter. Parnassus Investments LLC now owns 135,799 shares of the company’s stock valued at $9,400,000 after purchasing an additional 128,113 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Procore Technologies by 43,600.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after purchasing an additional 2,180 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Procore Technologies by 2.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 35,293 shares of the company’s stock valued at $2,443,000 after purchasing an additional 830 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Procore Technologies by 81.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock valued at $45,200,000 after purchasing an additional 293,613 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

About Procore Technologies

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Procore Technologies, Inc provides 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 Management, 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.

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Analyst Recommendations for Procore Technologies (NYSE:PCOR)

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