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

Procore Technologies, Inc. (NYSE:PCOR) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $84.24.

A number of brokerages have weighed in on PCOR. JMP Securities increased their target price on shares of Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Monday, December 2nd. KeyCorp boosted their target price on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. The Goldman Sachs Group raised their price target on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Finally, Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th.

Insiders Place Their Bets

In other Procore Technologies news, Director Kathryn Bueker sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.01, for a total transaction of $507,065.00. Following the completion of the transaction, the director now owns 23,932 shares of the company’s stock, valued at $1,866,935.32. This represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 1,355,720 shares of the company’s stock, valued at approximately $84,149,540.40. This represents a 0.38 % decrease in their position. 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 ninety days. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new stake in Procore Technologies in the fourth quarter worth about $269,000. GAMMA Investing LLC grew its stake in Procore Technologies by 84.7% in the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock worth $56,000 after purchasing an additional 342 shares during the period. Versant Capital Management Inc lifted its position in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. Synovus Financial Corp boosted its holdings in shares of Procore Technologies by 24.3% during the 3rd quarter. Synovus Financial Corp now owns 6,465 shares of the company’s stock valued at $399,000 after buying an additional 1,262 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Procore Technologies by 237.8% in the 3rd quarter. Tidal Investments LLC now owns 17,538 shares of the company’s stock worth $1,082,000 after acquiring an additional 12,346 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $77.04 on Friday. The company has a market capitalization of $11.45 billion, a P/E ratio of -154.08 and a beta of 0.82. 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 has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company’s 50-day moving average is $75.17 and its 200 day moving average is $66.38.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. On average, equities research analysts forecast that Procore Technologies will post -0.23 earnings per share for the current 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.