Jefferies Financial Group Has Lowered Expectations for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target decreased by Jefferies Financial Group from $100.00 to $90.00 in a report released on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other research analysts also recently weighed in on PCOR. UBS Group upped their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. KeyCorp boosted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Mizuho upped their price target on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Robert W. Baird lifted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Trading Up 2.0 %

Shares of NYSE:PCOR opened at $68.96 on Monday. The business’s 50-day moving average is $75.13 and its 200 day moving average is $72.30. The firm has a market capitalization of $10.34 billion, a P/E ratio of -95.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. On average, research analysts predict that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $73.62, for a total transaction of $377,523.36. Following the completion of the transaction, the director now directly owns 1,264,700 shares of the company’s stock, valued at approximately $93,107,214. This represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 1,447 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $68.79, for a total transaction of $99,539.13. Following the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at approximately $9,954,807.27. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,604 shares of company stock valued at $5,427,468. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC grew its stake in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank raised its stake in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after purchasing an additional 404 shares during the period. Finally, Hilltop National Bank purchased a new position in Procore Technologies in the 4th quarter valued at about $53,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.