Procore Technologies (NYSE:PCOR) Given New $95.00 Price Target at JMP Securities

Procore Technologies (NYSE:PCOR) had its target price upped by JMP Securities from $90.00 to $95.00 in a report released on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other analysts have also commented on PCOR. DA Davidson increased their target price 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. Piper Sandler increased their price objective on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, February 14th. TD Cowen boosted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.94.

Procore Technologies Trading Up 1.1 %

Shares of NYSE:PCOR opened at $88.42 on Tuesday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $77.89 and a 200-day moving average of $68.95. The firm has a market cap of $13.14 billion, a P/E ratio of -176.84 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. As a group, analysts anticipate that Procore Technologies will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 2,668 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the transaction, the senior vice president now directly owns 72,605 shares in the company, valued at approximately $5,181,092.80. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $114,270.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 114,656 shares of company stock valued at $8,776,297 over the last three months. Company insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Hedge funds have recently made changes to their positions in the company. JT Stratford LLC bought a new position in shares of Procore Technologies during the fourth quarter valued at $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Procore Technologies by 15.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock valued at $22,347,000 after buying an additional 39,935 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Procore Technologies in the fourth quarter worth approximately $14,855,000. Woodline Partners LP increased its holdings in shares of Procore Technologies by 45.8% during the fourth quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after acquiring an additional 217,351 shares in the last quarter. Finally, Spyglass Capital Management LLC increased its stake in Procore Technologies by 12.0% during the 4th quarter. Spyglass Capital Management LLC now owns 1,048,154 shares of the company’s stock valued at $78,538,000 after purchasing an additional 112,258 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.