Procore Technologies, Inc. (NYSE:PCOR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Procore Technologies, Inc. (NYSE:PCORGet Free Report) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $80.94.

Several research firms recently issued reports on PCOR. JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho reiterated a “neutral” rating and set a $70.00 price target (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price objective on shares of Procore Technologies in a report on Tuesday, June 11th. Macquarie assumed coverage on shares of Procore Technologies in a report on Wednesday, June 5th. They set a “neutral” rating and a $70.00 target price for the company. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 price target on shares of Procore Technologies in a research note on Thursday, March 14th.

View Our Latest Research Report on Procore Technologies

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Steven Scott Davis sold 2,174 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $65.77, for a total value of $142,983.98. Following the transaction, the insider now owns 217,478 shares of the company’s stock, valued at $14,303,528.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction on Monday, April 1st. The stock was sold at an average price of $82.15, for a total value of $246,450.00. Following the completion of the sale, the insider now directly owns 125,321 shares of the company’s stock, valued at $10,295,120.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Scott Davis sold 2,174 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $65.77, for a total value of $142,983.98. Following the transaction, the insider now directly owns 217,478 shares in the company, valued at approximately $14,303,528.06. The disclosure for this sale can be found here. Insiders have sold 302,576 shares of company stock worth $21,709,095 over the last quarter. 29.00% of the stock is currently owned by company insiders.

Institutional Trading of Procore Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PCOR. International Assets Investment Management LLC increased its position in shares of Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after acquiring an additional 887 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Procore Technologies during the 4th quarter worth about $62,000. Advisors Asset Management Inc. raised its position in Procore Technologies by 26.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Procore Technologies by 30.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after buying an additional 297 shares during the period. Finally, Covestor Ltd grew its position in shares of Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock worth $109,000 after buying an additional 300 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Stock Down 0.7 %

Procore Technologies stock opened at $63.94 on Tuesday. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35. The stock has a market capitalization of $9.36 billion, a PE ratio of -66.60 and a beta of 0.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The business has a 50 day simple moving average of $68.01 and a 200-day simple moving average of $71.34.

Procore Technologies (NYSE:PCORGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. On average, analysts anticipate that Procore Technologies will post -0.35 EPS for the current fiscal year.

About Procore Technologies

(Get Free Report

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.

Further Reading

Analyst Recommendations for Procore Technologies (NYSE:PCOR)

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