Fintel reports that on September 22, 2023, JMP Securities reiterated coverage of Procore Technologies (NYSE:PCOR) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 35.58% Upside
As of August 31, 2023, the average one-year price target for Procore Technologies is 85.36. The forecasts range from a low of 75.75 to a high of $94.50. The average price target represents an increase of 35.58% from its latest reported closing price of 62.96.
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The projected annual revenue for Procore Technologies is 890MM, an increase of 7.19%. The projected annual non-GAAP EPS is -0.53.
What is the Fund Sentiment?
There are 561 funds or institutions reporting positions in Procore Technologies. This is an increase of 19 owner(s) or 3.51% in the last quarter. Average portfolio weight of all funds dedicated to PCOR is 0.54%, an increase of 18.51%. Total shares owned by institutions increased in the last three months by 1.14% to 127,610K shares. 
The put/call ratio of PCOR is 0.43, indicating a bullish outlook.
What are Other Shareholders Doing?
ICONIQ Capital holds 39,410K shares representing 27.68% ownership of the company. In it's prior filing, the firm reported owning 42,145K shares, representing a decrease of 6.94%. The firm increased its portfolio allocation in PCOR by 249.13% over the last quarter.
Price T Rowe Associates holds 9,852K shares representing 6.92% ownership of the company. In it's prior filing, the firm reported owning 9,909K shares, representing a decrease of 0.58%. The firm increased its portfolio allocation in PCOR by 116.94% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 7,766K shares representing 5.45% ownership of the company. In it's prior filing, the firm reported owning 7,846K shares, representing a decrease of 1.04%. The firm decreased its portfolio allocation in PCOR by 2.49% over the last quarter.
Deer Management Co. holds 5,483K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 6,666K shares, representing a decrease of 21.56%. The firm decreased its portfolio allocation in PCOR by 14.81% over the last quarter.
Jpmorgan Chase holds 4,630K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 4,024K shares, representing an increase of 13.09%. The firm increased its portfolio allocation in PCOR by 749.19% over the last quarter.
Procore Technologies Background Information
(This description is provided by the company.)
Procore is a leading provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe.
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