Procore Technologies (NYSE:PCOR) Given New $65.00 Price Target at Barclays

Procore Technologies (NYSE:PCOR) had its price objective lowered by investment analysts at Barclays from $90.00 to $65.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 22.09% from the company’s current price.

Several other research analysts also recently commented on PCOR. Stifel Nicolaus decreased their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a research report on Thursday, January 22nd. Robert W. Baird boosted their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. KeyCorp reduced their price objective on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Finally, Piper Sandler boosted their target price on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Seventeen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.20.

Procore Technologies Price Performance

Shares of PCOR traded up $5.36 during midday trading on Friday, reaching $53.24. The stock had a trading volume of 3,328,067 shares, compared to its average volume of 2,559,171. The company’s 50-day moving average is $67.68 and its 200 day moving average is $69.99. Procore Technologies has a 12-month low of $46.08 and a 12-month high of $88.92. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of -63.48 and a beta of 0.89.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 12th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.Procore Technologies’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. On average, equities analysts predict that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William J.G. Griffith sold 207,474 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $72.30, for a total value of $15,000,370.20. Following the completion of the sale, the director directly owned 3,244,546 shares of the company’s stock, valued at approximately $234,580,675.80. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $71.91, for a total transaction of $21,573,000.00. Following the transaction, the chairman owned 677,796 shares in the company, valued at $48,740,310.36. This represents a 30.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 616,392 shares of company stock worth $44,460,801. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Procore Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PCOR. Vanguard Group Inc. lifted its position in Procore Technologies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock valued at $957,150,000 after purchasing an additional 804,920 shares during the period. Alliancebernstein L.P. lifted its holdings in Procore Technologies by 493.9% during the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after purchasing an additional 5,079,534 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Procore Technologies by 6.8% in the 3rd quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock worth $362,560,000 after buying an additional 315,604 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Procore Technologies by 76.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after purchasing an additional 1,750,998 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Procore Technologies by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company’s stock valued at $249,416,000 after buying an additional 127,256 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

More Procore Technologies News

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

• Positive Sentiment: Q4 earnings and revenue beat — Procore reported $0.37 EPS vs. a $0.35 consensus and revenue of $349.11M (vs. $340.8M expected); revenue rose ~15.6% year‑over‑year, showing continued top‑line growth. MarketBeat: Q4 results Zacks: Earnings beat
• Positive Sentiment: TD Cowen raised its price target to $85 and kept a Buy rating — the lift signals some analysts see materially more upside based on the results/strategy. Benzinga: TD Cowen raise
• Neutral Sentiment: Guidance was effectively in line — Procore issued FY revenue guidance around $1.5B (matching consensus) and Q1 revenue guidance of $351–353M versus a ~$349M consensus, so guidance neither dramatically upgrades nor cuts the outlook. Press release / guidance BusinessWire: Results
• Negative Sentiment: Several analysts trimmed price targets (Stifel to $63, BTIG to $66, KeyBanc to $80) despite maintaining Buy ratings — these cuts narrow upside and reflect more cautious valuation assumptions even after the beat. Benzinga: analyst moves TickerReport: Stifel TickerReport: BTIG MSN: KeyBanc cut

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. 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 Execution, 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.