Procore Technologies, Inc. (NYSE:PCOR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been given a consensus rating of “Moderate Buy” by the eighteen analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $89.94.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Mizuho boosted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. 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 boosted their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, TD Cowen boosted their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Insider Activity

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at $17,480. This represents a 84.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company’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 sale, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,311 shares of company stock valued at $7,720,903. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently added to or reduced their stakes in PCOR. Creative Planning purchased a new stake in Procore Technologies during the 3rd quarter worth approximately $234,000. Raymond James & Associates increased its stake in Procore Technologies by 3.0% during the 3rd quarter. Raymond James & Associates now owns 47,982 shares of the company’s stock worth $2,961,000 after buying an additional 1,386 shares during the period. International Assets Investment Management LLC increased its stake in Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Procore Technologies by 120.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,279 shares of the company’s stock worth $511,000 after buying an additional 4,531 shares during the period. Finally, Vanderbilt University purchased a new stake in Procore Technologies during the 3rd quarter worth approximately $2,924,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Up 0.5 %

Shares of NYSE PCOR opened at $76.32 on Friday. The company’s 50-day simple moving average is $78.19 and its 200-day simple moving average is $70.33. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $88.92. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of -106.00 and a beta of 0.84. 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 (NYSE:PCOR) last posted its quarterly 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 for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Equities analysts predict that Procore Technologies will post -0.15 EPS for the current fiscal year.

Procore Technologies Company Profile

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.