Procore Technologies’ (PCOR) Market Outperform Rating Reaffirmed at JMP Securities

Procore Technologies (NYSE:PCOR)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a research note issued on Friday,Benzinga reports. They presently have a $90.00 price objective on the stock. JMP Securities’ target price points to a potential upside of 19.00% from the stock’s previous close.

A number of other analysts have also recently weighed in on PCOR. Canaccord Genuity Group raised their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. DA Davidson lifted their target price on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. TD Cowen lifted their target price on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their target price on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Procore Technologies Stock Down 0.8 %

NYSE:PCOR traded down $0.62 during midday trading on Friday, reaching $75.63. The company had a trading volume of 319,038 shares, compared to its average volume of 1,035,755. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of -151.26 and a beta of 0.84. The stock’s fifty day simple moving average is $78.32 and its 200-day simple moving average is $68.29. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the transaction, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the transaction, the senior vice president now owns 72,605 shares in the company, valued at approximately $5,181,092.80. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,304 shares of company stock valued at $9,026,520. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently modified their holdings of PCOR. GAMMA Investing LLC lifted its position in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies during the 3rd quarter worth about $26,000. Versant Capital Management Inc increased its holdings in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. Finally, 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 worth $49,000 after purchasing an additional 789 shares during the period. Institutional investors and hedge funds 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.