Procore Technologies (NYSE:PCOR) Given New $70.00 Price Target at Jefferies Financial Group

Procore Technologies (NYSE:PCOR - Free Report) had its price objective increased by Jefferies Financial Group from $65.00 to $70.00 in a report released on Monday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also recently weighed in on PCOR. Robert W. Baird assumed coverage on Procore Technologies in a research note on Tuesday, September 24th. They set an "outperform" rating and a $73.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Baird R W raised shares of Procore Technologies to a "strong-buy" rating in a research note on Tuesday, September 24th. TD Cowen lifted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, Piper Sandler increased their target price on Procore Technologies from $63.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Five 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.25.

Procore Technologies Stock Performance

NYSE:PCOR traded down $0.03 on Monday, hitting $69.12. The stock had a trading volume of 1,589,811 shares, compared to its average volume of 1,575,386. The business's 50-day simple moving average is $62.53 and its two-hundred day simple moving average is $63.78. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of -137.20 and a beta of 0.71. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $83.35. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. As a group, research analysts predict that Procore Technologies will post -0.23 earnings per share for the current year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total value of $876,633.60. Following the sale, the insider now directly owns 2,284,989 shares of the company's stock, valued at $162,325,618.56. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 1,500 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total value of $107,625.00. Following the transaction, the chief financial officer now directly owns 171,997 shares in the company, valued at $12,340,784.75. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,695 shares of company stock valued at $6,844,893. Insiders own 29.00% of the company's stock.

Institutional Trading of Procore Technologies

A number of hedge funds have recently made changes to their positions in the stock. Coldstream Capital Management Inc. acquired a new stake in shares of Procore Technologies in the third quarter valued at about $235,000. Geode Capital Management LLC grew its stake in shares of Procore Technologies by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company's stock valued at $105,967,000 after purchasing an additional 168,769 shares during the period. Bullseye Asset Management LLC lifted its holdings in shares of Procore Technologies by 50.0% during the third quarter. Bullseye Asset Management LLC now owns 14,993 shares of the company's stock valued at $925,000 after acquiring an additional 5,000 shares during the period. M&T Bank Corp acquired a new position in Procore Technologies in the third quarter valued at about $250,000. Finally, Barclays PLC boosted its holdings in shares of Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after acquiring an additional 22,734 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.