Procore Technologies (NYSE:PCOR) Price Target Increased to $90.00 by Analysts at JPMorgan Chase & Co.

Procore Technologies (NYSE:PCOR) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $86.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 31.00% from the stock’s previous close.

Other equities analysts have also issued reports about the company. TD Cowen started coverage on Procore Technologies in a report on Wednesday, June 12th. They set a “buy” rating and a $85.00 target price for the company. Canaccord Genuity Group lowered their target price on Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barclays decreased their price objective on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Mizuho reissued a “neutral” rating and issued a $70.00 price objective (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. Finally, Macquarie initiated coverage on Procore Technologies in a report on Wednesday, June 5th. They issued a “neutral” rating and a $70.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.19.

Procore Technologies Stock Up 1.1 %

Shares of Procore Technologies stock opened at $68.70 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. The firm has a market cap of $10.05 billion, a P/E ratio of -71.56 and a beta of 0.75. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The business has a 50-day moving average price of $67.21 and a 200 day moving average price of $71.46.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.15. The firm had revenue of $269.43 million during the quarter, compared to analyst estimates of $263.13 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. On average, sell-side analysts forecast that Procore Technologies will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $66.13, for a total value of $132,260.00. Following the completion of the sale, the insider now directly owns 108,705 shares in the company, valued at $7,188,661.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Benjamin C. Singer sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $66.13, for a total transaction of $132,260.00. Following the completion of the sale, the insider now owns 108,705 shares in the company, valued at approximately $7,188,661.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $223,701.96. Following the sale, the senior vice president now owns 87,248 shares of the company’s stock, valued at approximately $6,122,192.16. The disclosure for this sale can be found here. Insiders sold 297,554 shares of company stock worth $20,096,420 over the last ninety days. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ellsworth Advisors LLC increased its stake in shares of Procore Technologies by 3.0% in the fourth quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after acquiring an additional 170 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Procore Technologies by 3.8% in the first quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock worth $589,000 after acquiring an additional 263 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after acquiring an additional 297 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Procore Technologies by 29.3% in the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock worth $109,000 after acquiring an additional 300 shares during 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.