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

Procore Technologies, Inc. (NYSE:PCOR) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $70.13.

A number of analysts have weighed in on the stock. Scotiabank cut their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. KeyCorp cut their target price on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Macquarie restated a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research report on Tuesday, July 30th. Finally, Barclays raised their target price on shares of Procore Technologies from $54.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $62.80 on Monday. The company’s 50 day simple moving average is $59.67 and its 200 day simple moving average is $64.29. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of -99.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55. Procore Technologies has a 1 year low of $48.11 and a 1 year high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) 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 analysts’ expectations of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.28) earnings per share. As a group, research analysts predict that Procore Technologies will post -0.28 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $62.88, for a total value of $322,448.64. Following the transaction, the director now owns 1,345,464 shares in the company, valued at $84,602,776.32. The trade was a 0.00 % 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. In related news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $62.88, for a total value of $322,448.64. Following the transaction, the director now owns 1,345,464 shares in the company, valued at $84,602,776.32. The trade was a 0.00 % 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, Director Connor Kevin J. O sold 3,846 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the transaction, the director now owns 1,444,313 shares in the company, valued at approximately $77,487,392.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,748 shares of company stock worth $5,661,056 over the last quarter. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of PCOR. GAMMA Investing LLC increased its stake in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Procore Technologies in the third quarter valued at $26,000. Signaturefd LLC increased its stake in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. International Assets Investment Management LLC increased its stake in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Procore Technologies in the second quarter valued at $51,000. 81.10% of the stock is owned by institutional investors.

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.