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

Procore Technologies (NYSE:PCOR) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $83.00 to $86.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.33% from the company’s current price.

Several other analysts have also commented on the company. Mizuho cut their price objective on Procore Technologies from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday. DA Davidson reaffirmed a “buy” rating and set a $95.00 price target on shares of Procore Technologies in a research report on Thursday, March 14th. JMP Securities increased their price objective on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group upped their target price 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. Finally, Stifel Nicolaus boosted their price objective on Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.64.

Procore Technologies Stock Up 5.6 %

Shares of NYSE PCOR traded up $3.83 during trading on Thursday, reaching $72.07. The company had a trading volume of 1,353,023 shares, compared to its average volume of 1,235,985. Procore Technologies has a 12-month low of $48.11 and a 12-month high of $83.35. The business’s 50-day moving average is $76.44 and its 200 day moving average is $68.91. The stock has a market cap of $10.54 billion, a PE ratio of -54.20 and a beta of 0.78. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. The company had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. As a group, equities analysts forecast that Procore Technologies will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the transaction, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $82.15, for a total transaction of $246,450.00. Following the sale, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,441 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the transaction, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at $13,648,481.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 467,672 shares of company stock valued at $36,612,454. 39.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procore Technologies

A number of large investors have recently modified their holdings of the business. Xponance Inc. grew 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 purchasing an additional 481 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Procore Technologies in the third quarter worth $261,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Procore Technologies during the third quarter worth $304,000. Bank of New York Mellon Corp lifted its position in 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 valued at $29,686,000 after purchasing an additional 17,111 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Procore Technologies by 32.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock valued at $1,073,000 after purchasing an additional 3,992 shares during the last quarter. 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.