Procore Technologies (NYSE:PCOR) Price Target Raised to $95.00

Procore Technologies (NYSE:PCOR) had its target price raised by research analysts at JMP Securities from $90.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 8.13% from the stock’s previous close.

A number of other analysts have also recently weighed in on PCOR. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Scotiabank raised their target price on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. DA Davidson upped their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird lifted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group boosted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.94.

Procore Technologies Stock Performance

Procore Technologies stock traded up $0.36 during mid-day trading on Tuesday, reaching $87.86. The company’s stock had a trading volume of 143,446 shares, compared to its average volume of 1,200,073. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of -175.75 and a beta of 0.84. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $88.58. The business has a 50 day moving average price of $77.72 and a 200-day moving average price of $68.73. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Sell-side analysts predict that Procore Technologies will post -0.22 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the sale, the director now directly owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. This represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the sale, the insider now owns 83,039 shares of the company’s stock, valued at $6,477,042. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,656 shares of company stock valued at $8,776,297. Corporate insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently modified their holdings of PCOR. V Square Quantitative Management LLC purchased a new position in Procore Technologies in the 3rd quarter worth about $26,000. Versant Capital Management Inc increased its position in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares during the period. International Assets Investment Management LLC lifted its position 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 valued at $49,000 after acquiring an additional 789 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 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.