Procore Technologies (NYSE:PCOR) Stock Price Expected to Rise, DA Davidson Analyst Says

Procore Technologies (NYSE:PCOR) had its price objective lifted by DA Davidson from $60.00 to $70.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued reports about the stock. TD Cowen lifted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank lifted their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday. Robert W. Baird began coverage on Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price for the company. JMP Securities decreased their price target on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Trading Up 4.6 %

Shares of PCOR opened at $80.24 on Friday. The stock’s 50-day moving average price is $64.64 and its 200 day moving average price is $64.00. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of -160.48 and a beta of 0.71. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $83.35.

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

Insider Buying and Selling

In related news, SVP William Fred Fleming, Jr. sold 15,000 shares of Procore Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the sale, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the transaction, the chief executive officer now owns 770,458 shares in the company, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,053 shares of company stock worth $7,426,909 in the last quarter. Insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

A number of institutional investors have recently bought and sold shares of PCOR. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Procore Technologies during the third quarter worth about $26,000. Signaturefd LLC boosted its holdings in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC bought a new position in Procore Technologies during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.