JMP Securities Lowers Procore Technologies (NYSE:PCOR) Price Target to $75.00

Procore Technologies (NYSE:PCOR) had its price target reduced by stock analysts at JMP Securities from $82.00 to $75.00 in a report released on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 12.56% from the company’s current price.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. dropped their price target on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Scotiabank dropped their target price on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. DA Davidson reissued a “neutral” rating and issued a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. Barclays boosted their price objective on shares of Procore Technologies from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Robert W. Baird initiated coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price for the company. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $66.63 on Thursday. The company has a market capitalization of $9.84 billion, a PE ratio of -133.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a fifty day moving average of $60.10 and a 200-day moving average of $63.90. Procore Technologies has a one year low of $48.11 and a one year high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.55% and a negative net margin of 6.59%. As a group, equities analysts anticipate that Procore Technologies will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $53.84, for a total transaction of $207,068.64. Following the transaction, the director now owns 1,436,621 shares of the company’s stock, valued at approximately $77,347,674.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Connor Kevin J. O sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $57.53, for a total value of $1,438,250.00. Following the sale, the director now directly owns 1,380,078 shares of the company’s stock, valued at approximately $79,395,887.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 3,846 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $53.84, for a total value of $207,068.64. Following the transaction, the director now directly owns 1,436,621 shares of the company’s stock, valued at $77,347,674.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,748 shares of company stock valued at $5,661,056 over the last quarter. Insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. Norden Group LLC bought a new stake in shares of Procore Technologies in the first quarter valued at approximately $1,269,000. Diversify Advisory Services LLC bought a new stake in shares of Procore Technologies in the first quarter valued at about $567,000. Capstone Investment Advisors LLC grew its position in Procore Technologies by 140.0% during the first quarter. Capstone Investment Advisors LLC now owns 14,307 shares of the company’s stock worth $1,176,000 after buying an additional 8,346 shares in the last quarter. BNP Paribas bought a new position in Procore Technologies during the first quarter valued at about $1,349,000. Finally, FORA Capital LLC acquired a new position in Procore Technologies in the 1st quarter valued at approximately $2,833,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.