Procore Technologies (NYSE:PCOR) Given New $90.00 Price Target at Jefferies Financial Group

Procore Technologies (NYSE:PCOR) had its price objective dropped by analysts at Jefferies Financial Group from $100.00 to $90.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 40.33% from the stock’s previous close.

Several other equities analysts have also recently issued reports on PCOR. KeyCorp lifted their price target on Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. UBS Group lifted their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Barclays increased their price objective on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler lifted their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four equities research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.65.

Procore Technologies Stock Down 7.4 %

PCOR stock opened at $64.13 on Monday. The stock has a market cap of $9.62 billion, a PE ratio of -89.88 and a beta of 0.85. The firm’s 50-day simple moving average is $75.77 and its 200 day simple moving average is $72.19. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, sell-side analysts predict that Procore Technologies will post -0.15 EPS for the current year.

Insider Activity

In related news, CRO Lawrence Joseph Stack sold 12,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the sale, the executive now owns 161,368 shares in the company, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at $17,480. The trade was a 84.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,604 shares of company stock worth $5,427,468. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PCOR. Cache Advisors LLC bought a new position in shares of Procore Technologies during the fourth quarter worth $2,909,000. JT Stratford LLC acquired a new position in Procore Technologies in the fourth quarter valued at about $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Procore Technologies by 15.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock worth $22,347,000 after acquiring an additional 39,935 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $14,855,000. Finally, Woodline Partners LP lifted its holdings in shares of Procore Technologies by 45.8% during the 4th quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after purchasing an additional 217,351 shares in the last quarter. Institutional investors 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.