Procore Technologies (NYSE:PCOR) Stock Gets Price Target Increase from UBS Group

Procore Technologies (NYSE:PCOR – Get Free Report) had its price objective hoisted by analysts at UBS Group from $80.00 to $95.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group‘s price objective indicates a potential upside of 26.12% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup restated a “market outperform” rating on shares of Procore Technologies in a report on Monday, October 26th. Guggenheim raised their target price on shares of Procore Technologies from $68.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. DA Davidson set a $56.00 price objective on shares of Procore Technologies in a research report on Monday, September 28th. Citizens Jmp increased their target price on Procore Technologies from $77.00 to $91.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Mizuho set a $68.00 price target on Procore Technologies in a research note on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.35.

Get Our Latest Stock Analysis on PCOR

Procore Technologies Stock Down 0.4%

NYSE PCOR traded down $0.28 during trading on Thursday, hitting $75.33. The stock had a trading volume of 4,049,430 shares, compared to its average volume of 3,008,882. The company has a market capitalization of $11.45 billion, a PE ratio of -327.49 and a beta of 0.75. The firm has a 50 day moving average price of $57.53 and a 200 day moving average price of $53.50. Procore Technologies has a twelve month low of $38.03 and a twelve month high of $80.40.

Procore Technologies (NYSE:PCOR – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The business had revenue of $402.31 million for the quarter, compared to analysts’ expectations of $384.38 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts anticipate that Procore Technologies will post 0.44 earnings per share for the current year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, SVP William Fleming, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $58.95, for a total transaction of $589,500.00. Following the transaction, the senior vice president owned 104,981 shares of the company’s stock, valued at approximately $6,188,629.95. This trade represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 2,586 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $75.00, for a total value of $193,950.00. Following the completion of the sale, the insider directly owned 84,345 shares of the company’s stock, valued at $6,325,875. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 212,808 shares of company stock valued at $12,026,454 over the last quarter. 16.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new position in shares of Procore Technologies in the 2nd quarter valued at $114,444,000. Bank of America Corp DE acquired a new stake in Procore Technologies during the 2nd quarter worth $34,651,000. Whetstone Capital Advisors LLC purchased a new position in Procore Technologies during the 2nd quarter worth $1,990,000. Hillsdale Investment Management Inc. acquired a new position in Procore Technologies in the first quarter valued at $3,181,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Procore Technologies in the second quarter valued at $964,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

More Procore Technologies News

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

  • Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
  • Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
  • Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale

Procore Technologies Company Profile

(Get Free Report)

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.

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