Procore Technologies (NYSE:PCOR) Price Target Raised to $95.00

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

PCOR has been the subject of a number of other research reports. TD Cowen increased 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. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Barclays lifted their price objective on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, UBS Group upped their price target on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four research 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 stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.94.

Procore Technologies Trading Down 4.0 %

PCOR stock opened at $83.03 on Tuesday. Procore Technologies has a 1-year low of $49.46 and a 1-year 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 business’s 50 day moving average is $78.02 and its 200-day moving average is $69.17. The firm has a market cap of $12.34 billion, a P/E ratio of -115.32 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. Equities analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. This represents a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total value of $117,000.00. Following the completion of the sale, the insider now directly owns 83,039 shares in the company, valued at $6,477,042. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,600 shares of company stock worth $5,846,541 in the last quarter. Corporate insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of large investors have recently bought and sold shares of PCOR. Chicago Partners Investment Group LLC lifted its position in shares of Procore Technologies by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after purchasing an additional 129 shares in the last quarter. CIBC Asset Management Inc increased its stake in Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares in the last quarter. Finally, Tanager Wealth Management LLP boosted its stake in shares of Procore Technologies by 1.3% during the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock worth $787,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.