Procore Technologies (NYSE:PCOR) Price Target Raised to $70.00 at Jefferies Financial Group

Procore Technologies (NYSE:PCOR) had its price objective lifted by Jefferies Financial Group from $65.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group decreased their price objective on Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 2nd. JMP Securities decreased their price objective on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. BMO Capital Markets decreased their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a report on Wednesday, October 2nd. Five research 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $70.26 on Monday. Procore Technologies has a one year low of $49.46 and a one year high of $83.35. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of -140.52 and a beta of 0.71. The business has a 50-day simple moving average of $63.46 and a 200 day simple moving average of $63.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. On average, research analysts anticipate that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the transaction, the director now owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the sale, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,997 shares of company stock worth $4,497,153. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in Procore Technologies during the 3rd quarter valued at $26,000. Signaturefd LLC raised its holdings in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after purchasing an additional 789 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Procore Technologies in the second quarter worth $51,000. Institutional investors own 81.10% of the company’s stock.

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.