JMP Securities Lowers Procore Technologies (NYSE:PCOR) Price Target to $75.00

Procore Technologies (NYSE:PCOR) had its price target reduced by investment analysts at JMP Securities from $82.00 to $75.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 14.38% from the company’s current price.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets cut their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. DA Davidson restated a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. KeyCorp cut their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Scotiabank cut their price objective on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Procore Technologies Trading Up 4.7 %

Shares of NYSE:PCOR traded up $2.92 during midday trading on Thursday, reaching $65.57. The company had a trading volume of 3,154,331 shares, compared to its average volume of 1,542,126. Procore Technologies has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a fifty day simple moving average of $59.86 and a two-hundred day simple moving average of $63.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of -103.37 and a beta of 0.73.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. Research analysts predict that Procore Technologies will post -0.28 earnings per share for the current year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $53.84, for a total value of $207,068.64. Following the sale, the director now owns 1,436,621 shares in the company, valued at approximately $77,347,674.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procore Technologies news, Director Connor Kevin J. O sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $57.53, for a total value of $1,438,250.00. Following the completion of the transaction, the director now directly owns 1,380,078 shares in the company, valued at approximately $79,395,887.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 3,846 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $53.84, for a total transaction of $207,068.64. Following the transaction, the director now directly owns 1,436,621 shares of the company’s stock, valued at $77,347,674.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,748 shares of company stock worth $5,661,056 in the last ninety days. Company insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PCOR. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in Procore Technologies during the 3rd quarter worth approximately $26,000. Signaturefd LLC lifted its position in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Procore Technologies during the second quarter worth $51,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.