Procore Technologies (NYSE:PCOR) Price Target Raised to $85.00 at JPMorgan Chase & Co.

Procore Technologies (NYSE:PCOR) had its target price raised by stock analysts at JPMorgan Chase & Co. from $75.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.71% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. JMP Securities cut their price target on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. TD Cowen raised their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler upped their price objective on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. Scotiabank decreased their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Finally, BMO Capital Markets increased their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $76.75.

Procore Technologies Stock Up 1.1 %

Shares of PCOR traded up $0.86 during midday trading on Friday, reaching $76.09. The stock had a trading volume of 582,998 shares, compared to its average volume of 1,579,401. The company has a market cap of $11.31 billion, a price-to-earnings ratio of -151.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company’s fifty day simple moving average is $63.82 and its two-hundred day simple moving average is $63.92. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data 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 net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Equities research analysts expect that Procore Technologies will post -0.23 earnings per share for the current year.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total value of $107,625.00. Following the transaction, the chief financial officer now owns 171,997 shares in the company, valued at $12,340,784.75. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $70.47, for a total transaction of $361,370.16. Following the completion of the transaction, the director now directly owns 1,335,208 shares in the company, valued at $94,092,107.76. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,997 shares of company stock valued at $4,497,153. 29.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Procore Technologies by 76.4% in 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 bought a new stake in shares of Procore Technologies during the 3rd quarter worth about $26,000. Signaturefd LLC boosted its stake in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Procore Technologies in the 2nd quarter valued at approximately $51,000. 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.