Procore Technologies (NYSE:PCOR) Given New $90.00 Price Target at JMP Securities

Procore Technologies (NYSE:PCOR) had its price target lifted by JMP Securities from $75.00 to $90.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other brokerages have also issued reports on PCOR. JPMorgan Chase & Co. lifted their target price on Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Jefferies Financial Group upped their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Barclays raised their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group upped their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, DA Davidson increased their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $81.65.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $80.82 on Monday. The business’s 50-day simple moving average is $66.45 and its 200 day simple moving average is $64.35. The company has a market cap of $12.02 billion, a P/E ratio of -161.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies has a one year low of $49.46 and a one year high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, sell-side analysts forecast that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the transaction, the director now owns 1,371,104 shares of the company’s stock, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn Bueker sold 6,500 shares of Procore Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $78.01, for a total value of $507,065.00. Following the transaction, the director now directly owns 23,932 shares in the company, valued at approximately $1,866,935.32. The trade was a 21.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,553 shares of company stock worth $7,933,974 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC grew its position in Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after buying an additional 1,609,607 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after acquiring an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Procore Technologies in the 3rd quarter worth $88,572,000. XN LP raised its position in shares of Procore Technologies by 101.1% during the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares during the period. Finally, PointState Capital LP purchased a new stake in shares of Procore Technologies during the third quarter valued at $81,306,000. 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.