Procore Technologies (NYSE:PCOR) Price Target Raised to $65.00

Procore Technologies (NYSE:PCOR) had its price objective upped by Jefferies Financial Group from $60.00 to $65.00 in a research report released on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

PCOR has been the subject of several other research reports. Scotiabank reduced their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Macquarie restated a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research note on Tuesday, July 30th. KeyCorp decreased their price target on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, BMO Capital Markets dropped their price objective on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.94.

Procore Technologies Stock Performance

PCOR opened at $66.63 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $60.10 and its two-hundred day moving average price is $63.90. The firm has a market capitalization of $9.84 billion, a P/E ratio of -133.26 and a beta of 0.73. Procore Technologies has a 12-month low of $48.11 and a 12-month high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.55%. On average, equities analysts forecast that Procore Technologies will post -0.28 earnings per share for the current year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 3,846 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the transaction, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Connor Kevin J. O sold 3,846 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the transaction, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 25,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $57.53, for a total value of $1,438,250.00. Following the completion of the transaction, the director now owns 1,380,078 shares in the company, valued at $79,395,887.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,748 shares of company stock worth $5,661,056. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

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

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.