Procore Technologies (NYSE:PCOR) Price Target Raised to $65.00 at Jefferies Financial Group

Procore Technologies (NYSE:PCOR - Get Free Report) had its price objective upped by investment analysts at Jefferies Financial Group from $60.00 to $65.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Jefferies Financial Group's price objective points to a potential upside of 2.49% from the company's current price.

PCOR has been the subject of a number of other reports. Piper Sandler dropped their price target on shares of Procore Technologies from $74.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Scotiabank reduced their price objective on shares of Procore Technologies from $90.00 to $70.00 and set a "sector outperform" rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. JMP Securities cut their price target on shares of Procore Technologies from $93.00 to $82.00 and set a "market outperform" rating on the stock in a research note on Friday, August 2nd. Finally, Baird R W upgraded shares of Procore Technologies to a "strong-buy" rating in a research note on Tuesday, September 24th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $69.81.

Procore Technologies Stock Up 2.5 %

Shares of PCOR traded up $1.53 on Tuesday, hitting $63.42. 1,979,427 shares of the stock traded hands, compared to its average volume of 1,529,713. The company has a market capitalization of $9.37 billion, a PE ratio of -100.67 and a beta of 0.73. 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 business has a 50 day simple moving average of $59.70 and a 200 day simple moving average of $64.01. Procore Technologies has a one year low of $48.11 and a one year high of $83.35.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. The business had revenue of $284.30 million for the quarter, compared to analysts' expectations of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The company's revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.28) EPS. As a group, equities analysts forecast that Procore Technologies will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of the transaction, the senior vice president now owns 79,156 shares of the company's stock, valued at approximately $4,681,285.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP William Fred Fleming, Jr. sold 2,707 shares of Procore Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of the transaction, the senior vice president now owns 79,156 shares in the company, valued at $4,681,285.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the transaction, the director now owns 1,444,313 shares of the company's stock, valued at $77,487,392.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,748 shares of company stock valued at $5,661,056. 29.00% of the stock is currently owned by company insiders.

Institutional Trading of Procore Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% during 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 acquired a new stake in Procore Technologies during the third quarter worth approximately $26,000. Signaturefd LLC raised its holdings in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company's stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Procore Technologies during the second quarter worth approximately $51,000. Finally, International Assets Investment Management LLC raised its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock worth $49,000 after purchasing an additional 789 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.