Procore Technologies (NYSE:PCOR) Price Target Raised to $90.00 at JMP Securities

Procore Technologies (NYSE:PCOR) had its price objective raised by equities researchers at JMP Securities from $75.00 to $90.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 10.84% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Robert W. Baird began coverage on Procore Technologies in a research note on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price objective for the company. Barclays boosted their price objective on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus raised their target price on Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Scotiabank boosted their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.65.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $81.20 on Monday. The business has a fifty day moving average of $66.45 and a 200 day moving average of $64.40. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of -162.40 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm 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 2.51% and a negative net margin of 6.59%. As a group, research analysts expect that Procore Technologies will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Bueker sold 6,500 shares of Procore Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.01, for a total transaction of $507,065.00. Following the sale, the director now directly owns 23,932 shares in the company, valued at approximately $1,866,935.32. This trade represents a 21.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,553 shares of company stock valued at $7,933,974 over the last quarter. 29.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Park Avenue Securities LLC grew its position in shares of Procore Technologies by 16.9% in the second quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after purchasing an additional 1,266 shares in the last quarter. M&G Plc boosted its stake in Procore Technologies by 12.4% during the second quarter. M&G Plc now owns 120,626 shares of the company’s stock worth $7,961,000 after buying an additional 13,334 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after buying an additional 272,030 shares in the last quarter. Advantage Alpha Capital Partners LP increased its stake in shares of Procore Technologies by 30.2% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock worth $7,825,000 after acquiring an additional 29,431 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Procore Technologies by 118.0% during the 2nd quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock worth $1,158,000 after acquiring an additional 9,454 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.