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

Procore Technologies (NYSE:PCOR) had its price target cut by equities research analysts at JMP Securities from $82.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 14.38% from the stock’s previous close.

PCOR has been the subject of a number of other reports. The Goldman Sachs Group reduced their price objective on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays increased their price target on shares of Procore Technologies from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday. Scotiabank dropped 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 report on Friday, August 2nd. Stifel Nicolaus reduced their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, DA Davidson restated a “neutral” rating and issued a $60.00 price objective on shares of Procore Technologies in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Procore Technologies Stock Up 4.7 %

PCOR traded up $2.92 during midday trading on Thursday, hitting $65.57. The company had a trading volume of 3,154,331 shares, compared to its average volume of 1,542,126. The stock’s 50 day moving average price is $59.86 and its 200 day moving average price is $63.93. Procore Technologies has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of -103.37 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03.

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

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 approximately $77,487,392.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the transaction, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $62.88, for a total value of $322,448.64. Following the completion of the transaction, the director now directly owns 1,345,464 shares in the company, valued at approximately $84,602,776.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,748 shares of company stock valued at $5,661,056 in the last three months. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCOR. Tanager Wealth Management LLP lifted its stake in Procore Technologies by 1.2% in the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 buying an additional 175 shares during the last quarter. Taylor Frigon Capital Management LLC raised its holdings in shares of Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after acquiring an additional 180 shares in the last quarter. Signaturefd LLC grew its stake 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 buying an additional 216 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Procore Technologies

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.