Procore Technologies (NYSE:PCOR) Rating Reiterated by DA Davidson

Procore Technologies (NYSE:PCOR)‘s stock had its “neutral” rating restated by analysts at DA Davidson in a report issued on Wednesday, Benzinga reports. They currently have a $60.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 1.33% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus decreased their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Mizuho restated a “neutral” rating and issued a $70.00 target price (down previously from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. BMO Capital Markets reduced their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird started coverage on Procore Technologies in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $69.50.

Procore Technologies Trading Up 0.2 %

NYSE PCOR traded up $0.14 on Wednesday, hitting $59.21. 98,756 shares of the company were exchanged, compared to its average volume of 1,522,382. The firm has a market capitalization of $8.66 billion, a P/E ratio of -61.68 and a beta of 0.73. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55. The company’s 50 day moving average price is $59.23 and its 200-day moving average price is $66.41.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The business had revenue of $284.30 million for the quarter, compared to the consensus estimate of $275.26 million. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business earned ($0.28) EPS. Analysts predict that Procore Technologies will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total value of $206,337.90. Following the sale, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total transaction of $206,337.90. Following the sale, the director now directly owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total value of $299,885.44. Following the completion of the transaction, the director now owns 1,360,848 shares of the company’s stock, valued at approximately $79,582,391.04. The disclosure for this sale can be found here. Insiders sold a total of 99,890 shares of company stock worth $5,947,691 over the last quarter. 29.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently modified their holdings of PCOR. Sycomore Asset Management raised its holdings in Procore Technologies by 61.1% in the second quarter. Sycomore Asset Management now owns 174,723 shares of the company’s stock worth $11,016,000 after buying an additional 66,248 shares during the last quarter. Ariadne Wealth Management LP bought a new position in shares of Procore Technologies during the second quarter valued at $501,000. Quarry LP boosted its position in shares of Procore Technologies by 984.6% during the second quarter. Quarry LP now owns 1,128 shares of the company’s stock valued at $75,000 after buying an additional 1,024 shares during the last quarter. Algert Global LLC increased its holdings in Procore Technologies by 15.8% in the 2nd quarter. Algert Global LLC now owns 34,006 shares of the company’s stock worth $2,255,000 after buying an additional 4,646 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in Procore Technologies by 26.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 45,731 shares of the company’s stock worth $3,032,000 after buying an additional 9,596 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

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.