Fintel reports that on April 27, 2023, Piper Sandler reiterated coverage of Procore Technologies (NYSE:PCOR) with a Overweight recommendation.
Analyst Price Forecast Suggests 43.99% Upside
As of April 23, 2023, the average one-year price target for Procore Technologies is 76.79. The forecasts range from a low of 63.63 to a high of $89.25. The average price target represents an increase of 43.99% from its latest reported closing price of 53.33.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Procore Technologies is 890MM, an increase of 23.61%. The projected annual non-GAAP EPS is -0.53.
What is the Fund Sentiment?
There are 497 funds or institutions reporting positions in Procore Technologies. This is an increase of 31 owner(s) or 6.65% in the last quarter. Average portfolio weight of all funds dedicated to PCOR is 0.42%, an increase of 1.94%. Total shares owned by institutions increased in the last three months by 2.19% to 125,379K shares. 
The put/call ratio of PCOR is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
ICONIQ Capital holds 45,561K shares representing 32.49% ownership of the company. In it's prior filing, the firm reported owning 45,563K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in PCOR by 13.86% over the last quarter.
Price T Rowe Associates holds 9,175K shares representing 6.54% ownership of the company. In it's prior filing, the firm reported owning 5,900K shares, representing an increase of 35.70%. The firm increased its portfolio allocation in PCOR by 45.61% over the last quarter.
Deer Management Co. holds 8,242K shares representing 5.88% ownership of the company. In it's prior filing, the firm reported owning 9,818K shares, representing a decrease of 19.13%. The firm increased its portfolio allocation in PCOR by 5.20% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 7,290K shares representing 5.20% ownership of the company. In it's prior filing, the firm reported owning 4,696K shares, representing an increase of 35.59%. The firm increased its portfolio allocation in PCOR by 51.64% over the last quarter.
12 West Capital Management holds 3,496K shares representing 2.49% ownership of the company. No change in the last quarter.
Procore Technologies Background Information
(This description is provided by the company.)
Procore is a leading provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe.
See all Procore Technologies regulatory filings.This story originally appeared on Fintel.
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