JMP Securities Reaffirms “Market Outperform” Rating for Procore Technologies (NYSE:PCOR)

JMP Securities reiterated their market outperform rating on shares of Procore Technologies (NYSE:PCOR) in a research report report published on Friday,Benzinga reports. The firm currently has a $90.00 price target on the stock.

Several other research analysts have also issued reports on PCOR. Scotiabank increased their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Mizuho increased their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. KeyCorp boosted their target price on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group increased their price target on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler boosted their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Procore Technologies Price Performance

Shares of PCOR opened at $75.42 on Friday. The firm has a market cap of $11.21 billion, a PE ratio of -150.84 and a beta of 0.84. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $86.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The business’s 50 day moving average price is $78.21 and its two-hundred day moving average price is $68.32.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the completion of the sale, the director now owns 1,231,368 shares in the company, valued at $94,532,121.36. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,124 shares of company stock valued at $10,014,301. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in Procore Technologies in the 2nd quarter valued at about $271,000. GAMMA Investing LLC raised its position in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the period. CHICAGO TRUST Co NA raised its position 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 valued at $345,000 after purchasing an additional 880 shares during the period. Creative Planning purchased a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $234,000. Finally, Ellsworth Advisors LLC boosted its holdings in Procore Technologies by 9.1% in the 3rd quarter. Ellsworth Advisors LLC now owns 7,561 shares of the company’s stock worth $467,000 after buying an additional 631 shares during the period. 81.10% of the stock is currently owned by 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.