Procore Technologies’ (PCOR) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Procore Technologies (NYSE:PCOR) in a report published on Friday,Benzinga reports. They currently have a $90.00 price target on the stock.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. Barclays raised their price target on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Piper Sandler upped their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. TD Cowen lifted their target price on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus upped their price target on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Procore Technologies Price Performance

PCOR stock opened at $75.42 on Friday. 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 market capitalization of $11.21 billion, a P/E ratio of -150.84 and a beta of 0.84. The business has a 50 day simple moving average of $78.21 and a 200-day simple moving average of $68.33. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $86.67.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the sale, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the transaction, the director now owns 23,932 shares of the company’s stock, valued at approximately $1,866,935.32. This represents a 21.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,124 shares of company stock valued at $10,014,301. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies in the third quarter worth $26,000. Versant Capital Management Inc lifted its position in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake 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 valued at $49,000 after acquiring an additional 789 shares during the last quarter. 81.10% of the stock is currently 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.