Procore Technologies (NYSE:PCOR) Price Target Increased to $86.00 by Analysts at JPMorgan Chase & Co.

Procore Technologies (NYSE:PCOR) had its price target increased by JPMorgan Chase & Co. from $83.00 to $86.00 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on PCOR. BMO Capital Markets lowered their target price on Procore Technologies from $90.00 to $85.00 and set an outperform rating for the company in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Procore Technologies from $74.00 to $85.00 and gave the company a buy rating in a report on Friday, February 16th. DA Davidson reaffirmed a buy rating and set a $95.00 target price on shares of Procore Technologies in a research note on Thursday, March 14th. Mizuho decreased their price target on shares of Procore Technologies from $80.00 to $75.00 and set a buy rating for the company in a research report on Thursday. Finally, KeyCorp upped their price objective on Procore Technologies from $85.00 to $95.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $81.79.

Procore Technologies Trading Down 1.6 %

Shares of PCOR stock traded down $1.09 during trading hours on Thursday, hitting $68.14. The company had a trading volume of 2,743,638 shares, compared to its average volume of 1,400,051. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $9.87 billion, a PE ratio of -70.98 and a beta of 0.78. The company’s fifty day moving average is $76.24 and its 200 day moving average is $68.91. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. The company had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Research analysts expect that Procore Technologies will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the sale, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Benjamin C. Singer sold 8,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $75.00, for a total value of $600,000.00. Following the completion of the sale, the insider now owns 116,318 shares in the company, valued at approximately $8,723,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the transaction, the chief executive officer now directly owns 530,049 shares in the company, valued at $36,557,479.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 538,672 shares of company stock worth $41,509,564. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently made changes to their positions in PCOR. Xponance Inc. raised its stake in Procore Technologies by 4.4% during the 3rd quarter. Xponance Inc. now owns 11,364 shares of the company’s stock valued at $742,000 after acquiring an additional 481 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Procore Technologies in the third quarter valued at approximately $261,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Procore Technologies during the third quarter worth approximately $304,000. Bank of New York Mellon Corp lifted its holdings in shares of Procore Technologies by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock worth $29,686,000 after purchasing an additional 17,111 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Procore Technologies by 32.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock valued at $1,073,000 after buying an additional 3,992 shares during the last quarter. Institutional investors and hedge funds 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.