KeyCorp Cuts Procore Technologies (NYSE:PCOR) Price Target to $77.00

by · The Cerbat Gem

Procore Technologies (NYSE:PCOR – Get Free Report) had its price target reduced by stock analysts at KeyCorp from $96.00 to $77.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 36.98% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Macquarie reduced their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Piper Sandler lifted their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. UBS Group raised their price objective on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, February 14th. JMP Securities boosted their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price target on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $85.76.

Get Our Latest Stock Analysis on PCOR

Procore Technologies Stock Down 3.7 %

Shares of PCOR stock traded down $2.14 on Monday, reaching $56.21. 185,563 shares of the company were exchanged, compared to its average volume of 1,727,605. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a 50-day moving average of $69.99 and a 200-day moving average of $72.31. The company has a market cap of $8.43 billion, a price-to-earnings ratio of -78.08 and a beta of 0.90. Procore Technologies has a one year low of $49.46 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now owns 83,039 shares of the company’s stock, valued at $6,477,042. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,982 shares of company stock worth $5,069,759. 29.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently modified their holdings of the company. Conestoga Capital Advisors LLC raised its holdings in shares of Procore Technologies by 7.5% during the first quarter. Conestoga Capital Advisors LLC now owns 222,962 shares of the company’s stock valued at $14,720,000 after acquiring an additional 15,510 shares during the last quarter. Adero Partners LLC lifted its stake in shares of Procore Technologies by 25.6% in the 1st quarter. Adero Partners LLC now owns 280,522 shares of the company’s stock valued at $18,520,000 after purchasing an additional 57,097 shares during the last quarter. Hanson & Doremus Investment Management increased its position in shares of Procore Technologies by 5.9% during the first quarter. Hanson & Doremus Investment Management now owns 30,532 shares of the company’s stock valued at $2,016,000 after acquiring an additional 1,711 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Procore Technologies by 8.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company’s stock worth $508,000 after purchasing an additional 613 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Procore Technologies by 5.8% in the 1st quarter. Fifth Third Bancorp now owns 5,977 shares of the company’s stock valued at $395,000 after acquiring an additional 329 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Procore Technologies

(Get Free Report)

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.

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