Jefferies Financial Group Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its target price increased by research analysts at Jefferies Financial Group from $65.00 to $70.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 1.67% from the stock’s previous close.

PCOR has been the topic of several other research reports. TD Cowen increased their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays raised their price objective on Procore Technologies from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Stifel Nicolaus dropped their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Baird R W raised Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. Five 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.25.

Procore Technologies Stock Down 0.4 %

NYSE:PCOR traded down $0.30 during trading hours on Monday, hitting $68.85. The company’s stock had a trading volume of 218,604 shares, compared to its average volume of 1,569,051. The stock has a market capitalization of $10.24 billion, a P/E ratio of -137.20 and a beta of 0.71. The stock has a fifty day moving average of $62.53 and a 200-day moving average of $63.78. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, equities analysts forecast that Procore Technologies will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $71.75, for a total value of $107,625.00. Following the sale, the chief financial officer now owns 171,997 shares of the company’s stock, valued at approximately $12,340,784.75. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $160,091.98. Following the sale, the senior vice president now directly owns 79,156 shares in the company, valued at $4,681,285.84. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,695 shares of company stock valued at $6,844,893. 29.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently modified their holdings of PCOR. Dragoneer Investment Group LLC raised its position in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after buying an additional 1,575,534 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Procore Technologies during the 3rd quarter worth $88,572,000. XN LP boosted its position in Procore Technologies by 101.1% during the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after purchasing an additional 1,411,812 shares during the period. Finally, PointState Capital LP purchased a new position in Procore Technologies in the 3rd quarter valued at about $81,306,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.