JMP Securities Increases Procore Technologies (NYSE:PCOR) Price Target to $81.00

Procore Technologies (NYSE:PCORGet Free Report) had its price target boosted by research analysts at JMP Securities from $69.00 to $81.00 in a report issued on Monday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 12.73% from the stock’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets dropped their price objective on Procore Technologies from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Oppenheimer lowered Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 2nd. Piper Sandler upped their price target on Procore Technologies from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Barclays cut their price target on Procore Technologies from $87.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Finally, Mizuho cut their price target on Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.33.

Get Our Latest Analysis on Procore Technologies

Procore Technologies Price Performance

NYSE PCOR opened at $71.85 on Monday. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $76.86. The stock’s 50-day moving average is $67.19 and its two-hundred day moving average is $64.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $10.31 billion, a P/E ratio of -43.81 and a beta of 0.67.

Insiders Place Their Bets

In other news, SVP William Fred Fleming, Jr. sold 3,381 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total value of $189,166.95. Following the transaction, the senior vice president now owns 77,809 shares of the company’s stock, valued at approximately $4,353,413.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP William Fred Fleming, Jr. sold 3,381 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total value of $189,166.95. Following the transaction, the senior vice president now owns 77,809 shares of the company’s stock, valued at approximately $4,353,413.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $54.87, for a total value of $281,373.36. Following the sale, the director now directly owns 1,589,189 shares in the company, valued at approximately $87,198,800.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 310,650 shares of company stock valued at $19,194,966. 39.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procore Technologies

Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of Procore Technologies by 31.8% in the 3rd quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock valued at $9,101,000 after acquiring an additional 33,590 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $2,922,000. Cadian Capital Management LP grew its holdings in shares of Procore Technologies by 302.5% in the 2nd quarter. Cadian Capital Management LP now owns 2,773,123 shares of the company’s stock valued at $180,447,000 after acquiring an additional 2,084,166 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in shares of Procore Technologies in the 3rd quarter valued at about $7,328,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Procore Technologies by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock valued at $29,686,000 after acquiring an additional 17,111 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Company Profile

(Get Free Report)

Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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