Procore Technologies (NYSE:PCOR) Given New $55.00 Price Target at DA Davidson

Procore Technologies (NYSE:PCOR) had its price target decreased by investment analysts at DA Davidson from $75.00 to $55.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 5.08% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group decreased their target price on Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Robert W. Baird boosted their target price 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. TD Cowen raised their price objective on Procore Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, BTIG Research cut their target price on Procore Technologies from $88.00 to $66.00 and set a “buy” rating on the stock in a report on Friday. Seventeen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.95.

Procore Technologies Price Performance

Shares of NYSE:PCOR traded up $4.46 during midday trading on Friday, reaching $52.34. The company’s stock had a trading volume of 4,785,403 shares, compared to its average volume of 2,599,605. The business’s fifty day simple moving average is $67.68 and its 200-day simple moving average is $69.99. The company has a market capitalization of $8.14 billion, a P/E ratio of -62.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33. Procore Technologies has a fifty-two week low of $46.08 and a fifty-two week high of $88.92.

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

Insider Activity

In other news, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $71.91, for a total value of $21,573,000.00. Following the sale, the chairman directly owned 677,796 shares of the company’s stock, valued at $48,740,310.36. The trade was a 30.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 9,615 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $75.13, for a total value of $722,374.95. Following the completion of the transaction, the director directly owned 1,052,519 shares of the company’s stock, valued at approximately $79,075,752.47. This represents a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have 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

Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in shares of Procore Technologies by 5.5% during the second quarter. US Bancorp DE now owns 21,638 shares of the company’s stock worth $1,480,000 after acquiring an additional 1,131 shares during the period. Principal Financial Group Inc. grew its stake in Procore Technologies by 12.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after purchasing an additional 360,207 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Procore Technologies during the 3rd quarter worth about $1,442,000. Federated Hermes Inc. increased its holdings in Procore Technologies by 17.0% during the 2nd quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock worth $20,815,000 after purchasing an additional 44,105 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Procore Technologies by 31.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 419,735 shares of the company’s stock valued at $30,607,000 after purchasing an additional 99,706 shares in the last quarter. 81.10% of the stock is currently 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.