JMP Securities Forecasts Strong Price Appreciation for Procore Technologies (NYSE:PCOR) Stock

Procore Technologies (NYSE:PCOR) had its price target raised by JMP Securities from $75.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 10.84% from the stock’s previous close.

Other analysts have also issued research reports about the company. Canaccord Genuity Group increased their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, November 18th. DA Davidson upped their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Robert W. Baird initiated coverage on shares of Procore Technologies in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price objective for the company. Finally, BMO Capital Markets boosted their target price on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $81.65.

Procore Technologies Stock Down 0.3 %

NYSE PCOR opened at $81.20 on Monday. The stock has a 50 day moving average price of $66.45 and a 200-day moving average price of $64.40. Procore Technologies has a one year low of $49.46 and a one year high of $83.35. The company has a market capitalization of $12.07 billion, a P/E ratio of -162.40 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, equities analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Activity

In other Procore Technologies news, insider Steven Scott Davis sold 9,671 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $65.00, for a total transaction of $628,615.00. Following the completion of the sale, the insider now directly owns 192,137 shares of the company’s stock, valued at approximately $12,488,905. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 75,120 shares in the company, valued at $5,314,740. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,553 shares of company stock worth $7,933,974. Corporate 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 company. GAMMA Investing LLC increased its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 3rd quarter valued at about $26,000. Signaturefd LLC raised its stake in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in 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 acquiring an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Procore Technologies during the second quarter worth about $51,000. Hedge funds and other 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.