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

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

Several other equities analysts also recently weighed in on the company. KeyCorp lifted their target price on Procore Technologies from $85.00 to $95.00 and gave the company an overweight rating in a research 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. JMP Securities raised their price target on shares of Procore Technologies from $81.00 to $93.00 and gave the company a market outperform rating in a research report on Friday, February 16th. Stifel Nicolaus upped their price objective on Procore Technologies from $64.00 to $90.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, Piper Sandler decreased their price objective on Procore Technologies from $80.00 to $77.00 and set an overweight rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of Moderate Buy and a consensus target price of $81.79.

Procore Technologies Trading Up 0.3 %

PCOR stock traded up $0.21 during mid-day trading on Thursday, hitting $68.35. 850,403 shares of the company were exchanged, compared to its average volume of 1,271,546. The business has a fifty day simple moving average of $76.24 and a 200-day simple moving average of $68.93. The firm has a market capitalization of $9.91 billion, a P/E ratio of -70.98 and a beta of 0.78. Procore Technologies has a 12-month low of $48.11 and a 12-month high of $83.35. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04.

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 8.25% 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. On average, equities research analysts predict that Procore Technologies will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now owns 77,768 shares in the company, valued at $5,747,055.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Benjamin C. Singer sold 3,000 shares of the business’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 directly owns 125,321 shares in the company, valued at $10,295,120.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the transaction, the senior vice president now directly owns 77,768 shares of the company’s stock, valued at $5,747,055.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 533,544 shares of company stock worth $41,139,271. 39.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

A number of large investors have recently modified their holdings of PCOR. BluePath Capital Management LLC acquired a new position in Procore Technologies during the third quarter worth $36,000. International Assets Investment Management LLC boosted its position in shares of Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Procore Technologies during the 4th quarter worth $62,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Procore Technologies by 30.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its stake in shares of Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after purchasing an additional 2,180 shares during the period. 81.10% of the stock is 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.