Procore Technologies (NYSE:PCOR) Stock Rating Upgraded by Jefferies Financial Group

Procore Technologies (NYSE:PCOR) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a $100.00 target price on the stock, up from their prior target price of $80.00. Jefferies Financial Group’s price objective would suggest a potential upside of 31.27% from the company’s current price.

A number of other equities analysts have also weighed in on PCOR. Stifel Nicolaus upped their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Mizuho upped their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. BMO Capital Markets raised their price target on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted their price objective on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Piper Sandler increased their target price on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Procore Technologies Trading Down 2.6 %

NYSE:PCOR opened at $76.18 on Monday. Procore Technologies has a one year low of $49.46 and a one year high of $86.67. The business has a fifty day moving average price of $75.75 and a 200-day moving average price of $66.61. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of -152.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results 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 return on equity of 2.51% and a negative net margin of 6.59%. Sell-side analysts forecast that Procore Technologies will post -0.23 EPS for the current year.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the completion of the transaction, the director now directly owns 1,355,720 shares of the company’s stock, valued at $84,149,540.40. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares in the company, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,693 shares of company stock worth $10,479,096. 29.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies during the third quarter valued at approximately $26,000. International Assets Investment Management LLC boosted its holdings in shares of Procore Technologies by 6,069.2% in the third 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 period. Finally, Quarry LP grew its stake in Procore Technologies by 984.6% in the second quarter. Quarry LP now owns 1,128 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares in the last quarter. 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.