Procore Technologies (NYSE:PCOR) Given New $90.00 Price Target at JMP Securities

Procore Technologies (NYSE:PCOR) had its target price raised by stock analysts at JMP Securities from $75.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 8.87% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PCOR. JPMorgan Chase & Co. raised their target price on shares of Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird began coverage on Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price on the stock. DA Davidson increased their price target on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. KeyCorp lifted their price objective on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, UBS Group initiated coverage on Procore Technologies in a research report on Monday. They set a “buy” rating and a $105.00 target price for the company. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.65.

Procore Technologies Stock Up 2.3 %

PCOR opened at $82.67 on Monday. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of -165.34 and a beta of 0.82. The firm’s fifty day moving average is $66.88 and its 200 day moving average is $64.43.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, sell-side analysts forecast that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathryn Bueker sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the sale, the director now owns 23,932 shares in the company, valued at approximately $1,866,935.32. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the transaction, the senior vice president now directly owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,553 shares of company stock worth $7,933,974 over the last quarter. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its position in shares of Procore Technologies by 16.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after purchasing an additional 1,266 shares during the period. M&G Plc boosted its position in Procore Technologies by 12.4% during the 2nd quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after acquiring an additional 13,334 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of 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 acquiring an additional 272,030 shares during the period. Advantage Alpha Capital Partners LP raised its position 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 in the last quarter. Finally, SG Americas Securities LLC lifted its stake 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 purchasing an additional 9,454 shares during the last quarter. 81.10% of the stock is currently owned by 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.