Jefferies Financial Group Boosts Procore Technologies (NYSE:PCOR) Price Target to $70.00

Procore Technologies (NYSE:PCOR) had its price objective hoisted by analysts at Jefferies Financial Group from $65.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price indicates a potential downside of 0.09% from the stock’s previous close.

Several other brokerages have also recently weighed in on PCOR. Piper Sandler boosted their price target on shares of Procore Technologies from $63.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Barclays upped their target price on shares of Procore Technologies from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JMP Securities reduced their price objective on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Finally, KeyCorp lowered their price objective on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five equities 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.25.

Procore Technologies Trading Up 1.4 %

Shares of Procore Technologies stock opened at $70.06 on Monday. Procore Technologies has a twelve month low of $49.46 and a twelve month 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. The business has a 50-day moving average price of $63.16 and a 200-day moving average price of $63.80. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of -140.12 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate 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%. Equities research analysts anticipate that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. This represents a 3.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig F. Jr. Courtemanche sold 22,993 shares of Procore Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $1,359,806.02. Following the completion of the sale, the chief executive officer now owns 793,123 shares of the company’s stock, valued at $46,905,294.22. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,695 shares of company stock valued at $6,844,893. 29.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently modified their holdings of PCOR. Vanguard Group Inc. boosted its stake in shares of Procore Technologies by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock valued at $764,111,000 after purchasing an additional 94,190 shares in the last quarter. XN LP lifted its holdings in Procore Technologies by 101.1% during the second quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after buying an additional 1,411,812 shares during the period. Meritage Group LP boosted its position in Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after acquiring an additional 1,098,019 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after acquiring an additional 1,297,151 shares during the period. Finally, Dragoneer Investment Group LLC raised its position in shares of Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after acquiring an additional 1,609,607 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.