Procore Technologies, Inc. (NYSE:PCOR) Receives $69.94 Consensus PT from Analysts

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $70.25.

A number of equities research analysts have commented on PCOR shares. DA Davidson reiterated a “neutral” rating and set a $60.00 target price on shares of Procore Technologies in a report on Wednesday, October 2nd. Scotiabank cut their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets reduced their target price on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Piper Sandler lifted their price target on shares of Procore Technologies from $63.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday.

Insider Buying and Selling

In related news, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $71.04, for a total transaction of $876,633.60. Following the completion of the sale, the insider now directly owns 2,284,989 shares of the company’s stock, valued at approximately $162,325,618.56. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $70.47, for a total value of $361,370.16. Following the completion of the transaction, the director now directly owns 1,335,208 shares in the company, valued at $94,092,107.76. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,695 shares of company stock valued at $6,844,893. 29.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procore Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its position in shares of Procore Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after purchasing an additional 143 shares in the last quarter. Tanager Wealth Management LLP increased its stake in Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares during the period. GAMMA Investing LLC lifted its holdings in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its position in Procore Technologies by 0.3% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after buying an additional 180 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Up 1.4 %

NYSE:PCOR opened at $70.06 on Friday. The company has a market capitalization of $10.42 billion, a PE ratio of -140.12 and a beta of 0.71. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $83.35. The stock has a fifty day simple moving average of $63.16 and a 200-day simple moving average of $63.80. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

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

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.