Procore Technologies (NYSE:PCOR) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Procore Technologies (NYSE:PCOR) from a hold rating to a buy rating in a research note published on Monday morning, Marketbeat Ratings reports. Jefferies Financial Group currently has $100.00 price objective on the stock, up from their prior price objective of $80.00.

A number of other research firms also recently issued reports on PCOR. KeyCorp lifted their price objective on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Robert W. Baird boosted their price target on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Stifel Nicolaus upped their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Scotiabank lifted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Finally, UBS Group began coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They set a “buy” rating and a $105.00 target price on the stock. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $76.32 on Monday. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of -152.64 and a beta of 0.83. The firm has a fifty day moving average price of $76.03 and a 200 day moving average price of $66.67. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, sell-side analysts expect that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total value of $318,294.96. Following the sale, the director now directly owns 1,355,720 shares of the company’s stock, valued at approximately $84,149,540.40. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 142,693 shares of company stock valued at $10,479,096 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PCOR. Diversified Trust Co boosted its stake in shares of Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after purchasing an additional 30,948 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Procore Technologies during the fourth quarter worth $269,000. GAMMA Investing LLC boosted its position in Procore Technologies by 84.7% during the 4th quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock valued at $56,000 after acquiring an additional 342 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Finally, Synovus Financial Corp raised its position in shares of Procore Technologies by 24.3% in the 3rd quarter. Synovus Financial Corp now owns 6,465 shares of the company’s stock worth $399,000 after acquiring an additional 1,262 shares in 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.