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

Procore Technologies, Inc. (NYSE:PCOR) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $90.24.

A number of research firms have weighed in on PCOR. Scotiabank lifted their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Mizuho lifted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. DA Davidson lifted their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. JMP Securities lifted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd.

Procore Technologies Trading Up 1.8 %

Shares of PCOR stock opened at $69.87 on Thursday. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $88.92. The firm’s fifty day simple moving average is $76.61 and its 200 day simple moving average is $71.36. The firm has a market capitalization of $10.48 billion, a P/E ratio of -97.05 and a beta of 0.85. 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 (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). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. As a group, sell-side analysts predict that Procore Technologies will post -0.15 EPS for the current year.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $73.62, for a total transaction of $377,523.36. Following the transaction, the director now owns 1,264,700 shares in the company, valued at $93,107,214. This represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the sale, the insider now directly owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,657 shares of company stock worth $5,442,199 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. Atria Investments Inc raised its holdings in Procore Technologies by 11.9% during the 3rd quarter. Atria Investments Inc now owns 4,950 shares of the company’s stock worth $306,000 after purchasing an additional 527 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Procore Technologies by 4.0% during the 3rd quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $3,882,000 after purchasing an additional 2,432 shares during the last quarter. KBC Group NV raised its holdings in Procore Technologies by 19.0% during the 3rd quarter. KBC Group NV now owns 2,722 shares of the company’s stock worth $168,000 after purchasing an additional 435 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in Procore Technologies by 6.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,213 shares of the company’s stock worth $322,000 after purchasing an additional 336 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after acquiring an additional 143 shares during the last quarter. 81.10% of the stock is 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.