Jefferies Financial Group Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target increased by analysts at Jefferies Financial Group from $65.00 to $70.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 1.67% from the company’s current price.

PCOR has been the subject of a number of other reports. Scotiabank dropped their price target on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets decreased their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. KeyCorp reduced their price objective on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Stifel Nicolaus cut their price target on Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

Procore Technologies Stock Performance

PCOR traded down $0.30 during midday trading on Monday, reaching $68.85. The company had a trading volume of 218,604 shares, compared to its average volume of 1,569,051. 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 business has a 50-day moving average of $62.53 and a two-hundred day moving average of $63.78. The company has a market cap of $10.24 billion, a P/E ratio of -137.20 and a beta of 0.71. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its quarterly 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 during the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Howard Fu sold 1,500 shares of Procore Technologies stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total value of $107,625.00. Following the completion of the transaction, the chief financial officer now owns 171,997 shares in the company, valued at $12,340,784.75. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value 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 approximately $79,606,298.24. This represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,695 shares of company stock valued at $6,844,893. 29.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently bought and sold shares of PCOR. GAMMA Investing LLC increased its stake in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the third quarter worth $26,000. Signaturefd LLC lifted its stake in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Procore Technologies during the second quarter worth $51,000. 81.10% of the stock is currently owned by hedge funds and other 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.