Procore Technologies (NYSE:PCOR) Upgraded at Jefferies Financial Group

Procore Technologies (NYSE:PCOR) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $100.00 price target on the stock, up from their prior price target of $80.00. Jefferies Financial Group’s price target would suggest a potential upside of 29.80% from the stock’s previous close.

PCOR has been the topic of several other research reports. Baird R W raised shares of Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Canaccord Genuity Group raised their price objective on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JMP Securities upped their target price on Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Monday, December 2nd. Finally, KeyCorp upped their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Procore Technologies Price Performance

Shares of PCOR opened at $77.04 on Monday. 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 stock has a market cap of $11.45 billion, a PE ratio of -154.08 and a beta of 0.82. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The business has a 50-day simple moving average of $75.17 and a two-hundred day simple moving average of $66.42.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Analysts anticipate that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 15,000 shares of Procore Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the completion of the transaction, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $62.07, for a total value of $318,294.96. Following the completion of the sale, the director now directly owns 1,355,720 shares of the company’s stock, valued at approximately $84,149,540.40. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,693 shares of company stock valued at $10,479,096. 29.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds have recently bought and sold shares of PCOR. Principal Financial Group Inc. boosted its holdings in Procore Technologies by 14.7% during the second quarter. Principal Financial Group Inc. now owns 9,176 shares of the company’s stock worth $608,000 after purchasing an additional 1,179 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Procore Technologies by 21.6% in the second quarter. CIBC Asset Management Inc now owns 4,061 shares of the company’s stock valued at $269,000 after acquiring an additional 721 shares in the last quarter. Rhumbline Advisers increased its position in shares of Procore Technologies by 30.3% during the second quarter. Rhumbline Advisers now owns 143,687 shares of the company’s stock valued at $9,528,000 after acquiring an additional 33,452 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Procore Technologies by 255.7% during the second quarter. Victory Capital Management Inc. now owns 60,465 shares of the company’s stock worth $4,009,000 after acquiring an additional 43,466 shares during the period. Finally, Arizona State Retirement System boosted its position in Procore Technologies by 2.9% in the second quarter. Arizona State Retirement System now owns 26,370 shares of the company’s stock worth $1,749,000 after purchasing an additional 737 shares during the last quarter. 81.10% of the stock is 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.