Procore Technologies’ (PCOR) Market Outperform Rating Reaffirmed at JMP Securities

Procore Technologies (NYSE:PCOR)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a report issued on Friday,Benzinga reports. They presently have a $90.00 price objective on the stock. JMP Securities’ price objective indicates a potential upside of 19.00% from the company’s current price.

Several other equities research analysts have also weighed in on PCOR. Piper Sandler increased their target price on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. KeyCorp increased their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Barclays increased their price objective on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Scotiabank increased their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets increased their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Procore Technologies Trading Down 0.8 %

NYSE PCOR traded down $0.62 during trading hours on Friday, hitting $75.63. The company’s stock had a trading volume of 319,038 shares, compared to its average volume of 1,035,755. The stock has a fifty day moving average of $78.32 and a 200 day moving average of $68.29. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $11.24 billion, a P/E ratio of -151.26 and a beta of 0.84. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $86.67.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now directly owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the sale, the chief executive officer now directly owns 770,458 shares in the company, valued at $54,979,882.88. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,304 shares of company stock worth $9,026,520 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Procore Technologies during the 2nd quarter valued at $271,000. GAMMA Investing LLC grew its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Procore Technologies by 18.7% in the third quarter. CHICAGO TRUST Co NA now owns 5,592 shares of the company’s stock worth $345,000 after purchasing an additional 880 shares in the last quarter. Creative Planning purchased a new position in shares of Procore Technologies in the third quarter worth about $234,000. Finally, Ellsworth Advisors LLC increased its stake in shares of Procore Technologies by 9.1% in the third quarter. Ellsworth Advisors LLC now owns 7,561 shares of the company’s stock worth $467,000 after purchasing an additional 631 shares in the last quarter. 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.