Jefferies Financial Group Cuts Procore Technologies (NYSE:PCOR) Price Target to $90.00

Procore Technologies (NYSE:PCOR) had its price objective decreased by Jefferies Financial Group from $100.00 to $90.00 in a research report released on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

PCOR has been the topic of a number of other research reports. Stifel Nicolaus increased their target price on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird increased their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Barclays boosted their target price on shares of Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler increased their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, JMP Securities boosted their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $68.96 on Monday. The company has a 50 day moving average of $75.13 and a 200 day moving average of $72.30. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $88.92. The firm has a market cap of $10.34 billion, a P/E ratio of -95.78 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, research analysts expect that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $17,480. This represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,604 shares of company stock valued at $5,427,468. 29.00% of the stock is owned by corporate insiders.

Institutional Trading of Procore Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. Cache Advisors LLC purchased a new position in Procore Technologies during the 4th quarter valued at $2,909,000. JT Stratford LLC bought a new stake in shares of Procore Technologies during the fourth quarter worth $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Procore Technologies by 15.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock valued at $22,347,000 after purchasing an additional 39,935 shares during the period. Voloridge Investment Management LLC purchased a new position in Procore Technologies in the 4th quarter worth about $14,855,000. Finally, Woodline Partners LP boosted its position in Procore Technologies by 45.8% in the 4th quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after buying an additional 217,351 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.