Procore Technologies (NYSE:PCOR) PT Lowered to $75.00 at Mizuho

Procore Technologies (NYSE:PCOR) had its price objective reduced by Mizuho from $80.00 to $75.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. JMP Securities boosted their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the company a market outperform rating in a research report on Friday, February 16th. DA Davidson reaffirmed a buy rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Thursday, March 14th. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the company a buy rating in a report on Friday, February 16th. BMO Capital Markets lifted their price objective on shares of Procore Technologies from $76.00 to $90.00 and gave the company an outperform rating in a report on Friday, February 16th. Finally, Piper Sandler lifted their price objective on shares of Procore Technologies from $77.00 to $80.00 and gave the company an overweight rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $81.79.

Procore Technologies Price Performance

NYSE PCOR opened at $68.14 on Thursday. The company has a fifty day moving average of $76.24 and a 200 day moving average of $68.91. Procore Technologies has a 1 year low of $48.11 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. The company had revenue of $260.04 million during the quarter, compared to the consensus estimate of $248.20 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.37%. On average, research analysts anticipate that Procore Technologies will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the sale, the chief executive officer now owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Benjamin C. Singer sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.05, for a total transaction of $207,150.00. Following the completion of the sale, the insider now owns 122,321 shares of the company’s stock, valued at approximately $8,446,265.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the sale, the chief executive officer now directly owns 530,049 shares of the company’s stock, valued at approximately $36,557,479.53. The disclosure for this sale can be found here. Insiders sold 538,672 shares of company stock valued at $41,509,564 over the last 90 days. Corporate insiders own 39.20% of the company’s stock.

Institutional Trading of Procore Technologies

Several large investors have recently bought and sold shares of PCOR. BluePath Capital Management LLC purchased a new stake in Procore Technologies during the 3rd quarter valued at about $36,000. International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Procore Technologies in the 4th quarter valued at about $62,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Procore Technologies by 30.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in Procore Technologies by 43,600.0% in 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. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.