Canaccord Genuity Group Cuts Procore Technologies (NYSE:PCOR) Price Target to $72.00

Procore Technologies (NYSE:PCOR) had its target price dropped by equities researchers at Canaccord Genuity Group from $90.00 to $72.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 37.01% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. DA Davidson raised shares of Procore Technologies to a “hold” rating in a report on Friday, November 7th. Piper Sandler cut their target price on shares of Procore Technologies from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price target on Procore Technologies from $90.00 to $75.00 and set a “buy” rating for the company in a report on Monday. Barclays dropped their target price on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, KeyCorp reduced their price objective on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $77.70.

Procore Technologies Stock Up 9.8%

Shares of NYSE:PCOR traded up $4.67 on Friday, reaching $52.55. The company had a trading volume of 4,186,512 shares, compared to its average volume of 2,587,466. The firm’s 50 day simple moving average is $67.68 and its 200-day simple moving average is $69.99. Procore Technologies has a 52-week low of $46.08 and a 52-week 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 firm has a market capitalization of $8.17 billion, a PE ratio of -62.68 and a beta of 0.89.

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

Insider Buying and Selling

In other Procore Technologies news, insider Benjamin C. Singer sold 4,204 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $69.21, for a total transaction of $290,958.84. Following the sale, the insider directly owned 75,676 shares in the company, valued at $5,237,535.96. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J.G. Griffith sold 207,474 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the sale, the director directly owned 3,244,546 shares in the company, valued at approximately $234,580,675.80. The trade was a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 616,392 shares of company stock worth $44,460,801 over the last 90 days. 21.50% of the stock is owned by insiders.

Institutional Trading of Procore Technologies

Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in Procore Technologies during the 4th quarter worth approximately $511,000. Goldman Sachs Group Inc. increased its stake in shares of Procore Technologies by 5.2% during the first quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after acquiring an additional 36,426 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Procore Technologies by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock worth $23,156,000 after purchasing an additional 52,507 shares in the last quarter. US Bancorp DE lifted its position in Procore Technologies by 5.5% in the second quarter. US Bancorp DE now owns 21,638 shares of the company’s stock valued at $1,480,000 after purchasing an additional 1,131 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Procore Technologies by 8.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,913 shares of the company’s stock valued at $747,000 after purchasing an additional 814 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Procore Technologies

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

• Positive Sentiment: Q4 earnings and revenue beat — Procore reported $0.37 EPS vs. $0.35 consensus and revenue of $349.1M (up 15.6% y/y), a clear fundamental positive that supports upside potential. Zacks: Procore Beats Q4
• Positive Sentiment: Analyst upgrade/price-target increase — TD Cowen raised its PT from $80 to $85 and keeps a “buy” rating, signaling continued conviction in Procore’s growth trajectory and contributing to buying interest. TD Cowen raise (Benzinga)
• Neutral Sentiment: Guidance mixed/inline — Procore issued FY and Q1 revenue guidance roughly in line with consensus (Q1 revenue guided to ~$351.0M–$353.0M vs. $349M consensus; FY revenue ~ $1.5B). Guidance reduces uncertainty but did not materially outpace expectations. Press Release / Guidance
• Negative Sentiment: Piper Sandler cut its price target from $91 to $79 (still “overweight”), trimming upside expectations and likely capping some investor enthusiasm. Piper Sandler cut (Benzinga)
• Negative Sentiment: Barclays lowered its target from $90 to $65 while maintaining an “overweight” stance, a notable reduction that signals more conservative near-term valuation assumptions. Barclays cut (Benzinga)
• Negative Sentiment: Stifel trimmed its target from $85 to $63 (remains “buy”), another downward revision that may pressure sentiment despite the buy rating. Stifel cut (Benzinga) TickerReport
• Negative Sentiment: BTIG reduced its PT from $88 to $66 (keeps “buy”), another analyst trimming upside that adds to the mixed sell-side response. BTIG cut (Benzinga) TickerReport
• Negative Sentiment: KeyBanc also trimmed its target to $80, contributing to the cluster of downward PT revisions today. KeyBanc cut (MSN)

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. 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.