JPMorgan Chase & Co. Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $85.00 to $92.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.51% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upped their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Canaccord Genuity Group upped their price target on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BMO Capital Markets raised their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. TD Cowen boosted their price objective on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Barclays increased their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Procore Technologies Stock Down 3.0 %

Shares of PCOR stock opened at $80.34 on Monday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $86.67. The stock has a market cap of $11.94 billion, a P/E ratio of -160.68 and a beta of 0.82. The stock has a 50 day moving average of $69.54 and a 200 day moving average of $65.01. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. As a group, sell-side analysts expect that Procore Technologies will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the transaction, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn Bueker sold 6,500 shares of the firm’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 transaction of $507,065.00. Following the sale, the director now owns 23,932 shares of the company’s stock, valued at $1,866,935.32. This represents a 21.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,553 shares of company stock valued at $7,933,974 in the last ninety days. 29.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCOR. GAMMA Investing LLC lifted its stake in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Procore Technologies during the third quarter worth about $26,000. Signaturefd LLC increased its position in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Procore Technologies in the 2nd quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after acquiring an additional 789 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.