Procore Technologies, Inc. (NYSE:PCOR – Free Report) – Equities researchers at Scotiabank increased their FY2024 earnings estimates for Procore Technologies in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst N. Altmann now expects that the company will post earnings per share of ($0.23) for the year, up from their previous estimate of ($0.30). Scotiabank currently has a “Sector Outperform” rating and a $85.00 target price on the stock. The consensus estimate for Procore Technologies’ current full-year earnings is ($0.23) per share. Scotiabank also issued estimates for Procore Technologies’ FY2025 earnings at ($0.24) EPS.
A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their price objective on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. DA Davidson raised their target price on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays boosted their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, UBS Group assumed coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They set a “buy” rating and a $105.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.
Procore Technologies Price Performance
Shares of NYSE:PCOR opened at $75.00 on Friday. The firm’s 50 day moving average is $76.41 and its two-hundred day moving average is $66.84. The firm has a market capitalization of $11.15 billion, a P/E ratio of -150.00 and a beta of 0.83. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $86.67.
Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share 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 for the quarter, compared to analysts’ expectations of $287.42 million.
Insider Buying and Selling
In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the transaction, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. The trade was a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now owns 171,997 shares in the company, valued at approximately $12,340,784.75. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,693 shares of company stock valued at $10,479,096. Insiders own 29.00% of the company’s stock.
Institutional Investors Weigh In On Procore Technologies
A number of institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Procore Technologies by 5.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 88,154 shares of the company’s stock worth $6,605,000 after acquiring an additional 4,407 shares in the last quarter. Hilltop National Bank bought a new stake in Procore Technologies during the 4th quarter worth approximately $53,000. Diversified Trust Co raised its holdings in Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after buying an additional 30,948 shares during the period. Everence Capital Management Inc. bought a new position in Procore Technologies in the fourth quarter valued at approximately $269,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Procore Technologies by 84.7% in the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock valued at $56,000 after buying an additional 342 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.
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.
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