KeyCorp Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target boosted by KeyCorp from $81.00 to $91.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also issued reports on the company. Citizens Jmp lowered Procore Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 1st. Stifel Nicolaus increased their target price on Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Mizuho raised their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. William Blair restated an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. Finally, DA Davidson began coverage on shares of Procore Technologies in a research report on Monday, August 4th. They issued a “neutral” rating and a $70.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $84.26.

Procore Technologies Stock Up 10.6%

Shares of NYSE:PCOR opened at $79.14 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of -94.22 and a beta of 0.90. The company has a 50 day moving average of $72.02 and a 200-day moving average of $69.21. Procore Technologies has a one year low of $53.71 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.17%. The business had revenue of $172.21 million during the quarter. On average, sell-side analysts forecast that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 7,692 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $70.56, for a total value of $542,747.52. Following the completion of the transaction, the director directly owned 1,115,637 shares in the company, valued at approximately $78,719,346.72. The trade was a 0.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 1,036 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total value of $77,700.00. Following the sale, the insider directly owned 85,330 shares of the company’s stock, valued at approximately $6,399,750. The trade was a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,724 shares of company stock valued at $2,122,519 over the last 90 days. 21.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. Brighton Jones LLC acquired a new stake in shares of Procore Technologies in the 4th quarter valued at about $511,000. Amalgamated Bank grew its holdings in shares of Procore Technologies by 4.2% during the first quarter. Amalgamated Bank now owns 7,374 shares of the company’s stock worth $487,000 after buying an additional 295 shares in the last quarter. Teacher Retirement System of Texas raised its position in Procore Technologies by 89.5% in the 1st quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company’s stock valued at $1,318,000 after buying an additional 9,428 shares during the last quarter. Brown Advisory Inc. lifted its stake in Procore Technologies by 87.4% in the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company’s stock valued at $854,000 after acquiring an additional 6,038 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Procore Technologies by 167.6% in the 1st quarter. Cerity Partners LLC now owns 121,073 shares of the company’s stock valued at $7,993,000 after acquiring an additional 75,823 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Company Profile

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.