Procore Technologies (NYSE:PCOR) Given New $84.00 Price Target at Stifel Nicolaus

Procore Technologies (NYSE:PCOR) had its target price boosted by Stifel Nicolaus from $70.00 to $84.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on PCOR. BMO Capital Markets boosted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group lowered their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock 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 report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Five 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Trading Up 1.9 %

Shares of PCOR opened at $76.68 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $11.40 billion, a P/E ratio of -153.36 and a beta of 0.71. The firm has a 50-day moving average price of $64.19 and a 200 day moving average price of $63.92. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The business 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 6.59% and a negative return on equity of 2.51%. Sell-side analysts forecast that Procore Technologies will post -0.23 EPS for the current year.

Insider Buying and Selling

In other news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,500 shares of Procore Technologies stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the transaction, the chief financial officer now owns 171,997 shares in the company, valued at approximately $12,340,784.75. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,053 shares of company stock worth $7,426,909. 29.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 3rd quarter valued at approximately $26,000. Signaturefd LLC increased its holdings 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 acquiring an additional 216 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Procore Technologies in the second quarter worth $51,000. 81.10% of the stock is currently 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.