Procore Technologies (NYSE:PCOR) Price Target Raised to $86.00 at JPMorgan Chase & Co.

Procore Technologies (NYSE:PCOR) had its price target upped by JPMorgan Chase & Co. from $83.00 to $86.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

PCOR has been the subject of several other reports. The Goldman Sachs Group lifted their target price on Procore Technologies from $74.00 to $85.00 and gave the stock a buy rating in a research note on Friday, February 16th. Stifel Nicolaus increased their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the company a buy rating in a research report on Friday, February 16th. DA Davidson reaffirmed a buy rating and set a $95.00 target price on shares of Procore Technologies in a report on Thursday, March 14th. BMO Capital Markets cut their price objective on shares of Procore Technologies from $90.00 to $85.00 and set an outperform rating for the company in a research report on Thursday. Finally, JMP Securities increased their target price on Procore Technologies from $81.00 to $93.00 and gave the stock a market outperform rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $81.79.

Procore Technologies Stock Up 0.1 %

Shares of NYSE:PCOR traded up $0.10 during midday trading on Thursday, reaching $68.24. The company had a trading volume of 874,911 shares, compared to its average volume of 1,271,546. The business’s 50 day moving average price is $76.24 and its 200 day moving average price is $68.93. Procore Technologies has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. The stock has a market cap of $9.89 billion, a PE ratio of -70.98 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. The company had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. Research analysts forecast that Procore Technologies will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Howard Fu sold 1,441 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the sale, the chief financial officer now directly owns 192,178 shares in the company, valued at approximately $13,648,481.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Howard Fu sold 1,441 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the transaction, the chief financial officer now directly owns 192,178 shares in the company, valued at approximately $13,648,481.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 3,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $78.26, for a total value of $234,780.00. Following the sale, the insider now owns 101,865 shares in the company, valued at approximately $7,971,954.90. The disclosure for this sale can be found here. Insiders sold a total of 533,544 shares of company stock worth $41,139,271 in the last ninety days. 39.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently added to or reduced their stakes in the business. BluePath Capital Management LLC acquired a new position in shares of Procore Technologies during the third quarter worth $36,000. International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after buying an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Procore Technologies in the 4th quarter valued at about $62,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after acquiring an additional 297 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of Procore Technologies by 43,600.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock worth $151,000 after acquiring an additional 2,180 shares during the last quarter. 81.10% of the stock is currently 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.