Citizens Jmp Forecasts Strong Price Appreciation for Procore Technologies (NYSE:PCOR) Stock

Procore Technologies (NYSE:PCOR) had its price target increased by research analysts at Citizens Jmp from $77.00 to $91.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp‘s price objective indicates a potential upside of 20.81% from the company’s current price.

A number of other research analysts have also recently weighed in on PCOR. TD Cowen raised their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. Mizuho set a $68.00 price objective on shares of Procore Technologies in a research report on Wednesday. Griffin Securities initiated coverage on shares of Procore Technologies in a research report on Wednesday, October 28th. They issued a “buy” rating and a $82.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, BTIG Research upped their price target on shares of Procore Technologies from $66.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Eighteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $80.35.

Procore Technologies Stock Down 0.4%

Shares of PCOR traded down $0.28 on Thursday, reaching $75.33. The stock had a trading volume of 4,049,430 shares, compared to its average volume of 3,008,882. Procore Technologies has a twelve month low of $38.03 and a twelve month high of $80.40. The firm has a market capitalization of $11.45 billion, a PE ratio of -327.49 and a beta of 0.75. The firm has a 50-day moving average of $57.53 and a 200 day moving average of $53.50.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. The firm had revenue of $402.31 million during the quarter, compared to analysts’ expectations of $384.38 million. Procore Technologies had a positive return on equity of 0.71% and a negative net margin of 2.73%. Procore Technologies’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, sell-side analysts anticipate that Procore Technologies will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, Director Elisa Steele sold 3,337 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $69.10, for a total value of $230,586.70. Following the transaction, the director directly owned 55,034 shares in the company, valued at approximately $3,802,849.40. This represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fleming, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $58.95, for a total transaction of $589,500.00. Following the sale, the senior vice president directly owned 104,981 shares in the company, valued at $6,188,629.95. This represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 212,808 shares of company stock valued at $12,026,454. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently modified their holdings of the company. Diversified Trust Co purchased a new stake in Procore Technologies in the 3rd quarter worth approximately $339,000. Aberdeen Group plc purchased a new position in shares of Procore Technologies during the 3rd quarter worth $17,688,000. William Blair Investment Management LLC acquired a new stake in shares of Procore Technologies during the third quarter worth $86,864,000. Marble Harbor Investment Counsel LLC boosted its holdings in shares of Procore Technologies by 7.1% during the third quarter. Marble Harbor Investment Counsel LLC now owns 136,848 shares of the company’s stock worth $7,078,000 after purchasing an additional 9,087 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Procore Technologies by 128.3% during the third quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 449 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies News Roundup

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
• Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
• Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.