Stifel Nicolaus Boosts Procore Technologies (NYSE:PCOR) Price Target to $93.00

Procore Technologies (NYSE:PCOR) had its price target increased by stock analysts at Stifel Nicolaus from $84.00 to $93.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 23.21% from the stock’s current price.

Other research analysts also recently issued reports about the stock. DA Davidson lifted their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Canaccord Genuity Group increased their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. JMP Securities boosted their price target on shares of Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Monday, December 2nd. BMO Capital Markets upped their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $84.24.

Procore Technologies Stock Performance

NYSE PCOR opened at $75.48 on Wednesday. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $86.67. The company has a fifty day moving average of $72.18 and a 200-day moving average of $65.56. The company has a market capitalization of $11.22 billion, a P/E ratio of -150.96 and a beta of 0.82. 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 (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities research analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total value of $318,294.96. Following the completion of the transaction, the director now directly owns 1,355,720 shares of the company’s stock, valued at $84,149,540.40. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $78.01, for a total transaction of $507,065.00. Following the completion of the sale, the director now owns 23,932 shares of the company’s stock, valued at $1,866,935.32. This trade represents a 21.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,193 shares of company stock worth $10,364,826 over the last quarter. 29.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies in the 3rd quarter worth approximately $26,000. Signaturefd LLC grew its stake in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the last quarter. International Assets Investment Management LLC increased its position in Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Procore Technologies during the second quarter valued at $51,000. 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.