Procore Technologies (NYSE:PCOR) Stock Price Expected to Rise, JMP Securities Analyst Says

Procore Technologies (NYSE:PCOR) had its target price lifted by JMP Securities from $90.00 to $95.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also commented on PCOR. Piper Sandler upped their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. DA Davidson boosted their price objective on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. KeyCorp increased their target price on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Mizuho lifted their price target on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Barclays upped their price objective on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $89.94.

Procore Technologies Stock Performance

PCOR opened at $83.03 on Tuesday. 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 $12.34 billion, a price-to-earnings ratio of -115.32 and a beta of 0.84. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $88.92. The business has a 50 day moving average of $78.02 and a 200-day moving average of $69.17.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. On average, equities research analysts expect that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Buying and Selling

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the sale, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $76.77, for a total value of $492,095.70. Following the completion of the transaction, the director now owns 1,231,368 shares of the company’s stock, valued at $94,532,121.36. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,600 shares of company stock worth $5,846,541 in the last three months. 29.00% of the stock is owned by corporate insiders.

Institutional Trading of Procore Technologies

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake 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 valued at $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies in the 3rd quarter valued at approximately $26,000. Huntington National Bank raised its stake in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after acquiring an additional 404 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Procore Technologies during the fourth quarter worth $53,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.