Procore Technologies (NYSE:PCOR) PT Raised to $86.00

Procore Technologies (NYSE:PCOR - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $83.00 to $86.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 24.24% from the company's current price.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus upped their price target on 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 restated a "buy" rating and set a $95.00 target price on shares of Procore Technologies in a research report on Thursday, March 14th. JMP Securities upped their target price on Procore Technologies from $81.00 to $93.00 and gave the company a "market outperform" rating in a research report on Friday, February 16th. BMO Capital Markets cut their target price on Procore Technologies from $90.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Piper Sandler cut their target price on Procore Technologies from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of "Moderate Buy" and a consensus target price of $81.79.

Procore Technologies Trading Up 1.4 %

Shares of NYSE PCOR traded up $0.98 during trading on Thursday, reaching $69.22. The company had a trading volume of 3,253,142 shares, compared to its average volume of 1,259,854. The company's fifty day moving average price is $76.44 and its 200-day moving average price is $68.91. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35. The stock has a market cap of $10.13 billion, a P/E ratio of -52.44 and a beta of 0.78. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The firm had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. As a group, research analysts expect that Procore Technologies will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the transaction, the senior vice president now owns 77,768 shares in the company, valued at $5,747,055.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the sale, the senior vice president now directly owns 77,768 shares of the company's stock, valued at approximately $5,747,055.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 5,000 shares of Procore Technologies stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $77.25, for a total value of $386,250.00. Following the sale, the senior vice president now directly owns 74,521 shares in the company, valued at $5,756,747.25. The disclosure for this sale can be found here. Insiders have sold 467,672 shares of company stock worth $36,612,454 over the last 90 days. Corporate insiders own 39.20% of the company's stock.

Institutional Trading of Procore Technologies

A number of hedge funds have recently made changes to their positions in PCOR. Xponance Inc. boosted its position in shares of Procore Technologies by 4.4% in the 3rd quarter. Xponance Inc. now owns 11,364 shares of the company's stock worth $742,000 after purchasing an additional 481 shares in the last quarter. Raymond James & Associates bought a new position in Procore Technologies in the 3rd quarter valued at approximately $261,000. Raymond James Financial Services Advisors Inc. bought a new position in Procore Technologies in the 3rd quarter valued at approximately $304,000. Bank of New York Mellon Corp lifted its position in Procore Technologies by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company's stock valued at $29,686,000 after acquiring an additional 17,111 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Procore Technologies by 32.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company's stock valued at $1,073,000 after acquiring an additional 3,992 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

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.