Procore Technologies, Inc. (NYSE:PCOR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Procore Technologies, Inc. (NYSE:PCOR) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $81.86.

A number of research analysts have weighed in on PCOR shares. Piper Sandler raised their price objective on shares of Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Procore Technologies in a research note on Thursday, March 14th. The Goldman Sachs Group boosted their price objective on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JMP Securities raised their target price on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus upped their price target on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 16th.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $72.21, for a total transaction of $370,292.88. Following the completion of the transaction, the director now directly owns 1,543,037 shares of the company’s stock, valued at approximately $111,422,701.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Craig F. Jr. Courtemanche sold 110,000 shares of Procore Technologies stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $80.00, for a total value of $8,800,000.00. Following the completion of the sale, the chief executive officer now owns 532,749 shares of the company’s stock, valued at approximately $42,619,920. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $72.21, for a total value of $370,292.88. Following the completion of the sale, the director now owns 1,543,037 shares in the company, valued at $111,422,701.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 467,672 shares of company stock valued at $36,612,454. 39.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ellsworth Advisors LLC lifted its stake in shares of Procore Technologies by 3.0% during the 4th quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock valued at $408,000 after buying an additional 170 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Procore Technologies by 0.8% during the third quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company’s stock worth $1,692,000 after acquiring an additional 200 shares in the last quarter. Portside Wealth Group LLC lifted its position in shares of Procore Technologies by 7.5% during the third quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock worth $215,000 after acquiring an additional 231 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Procore Technologies by 3.8% in the first quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock worth $589,000 after acquiring an additional 263 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Procore Technologies by 8.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,167 shares of the company’s stock valued at $272,000 after purchasing an additional 316 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 0.4 %

PCOR stock opened at $70.09 on Monday. The stock’s 50 day simple moving average is $76.82 and its 200 day simple moving average is $68.90. The company has a market cap of $10.16 billion, a P/E ratio of -52.70 and a beta of 0.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The firm had revenue of $260.04 million during the quarter, compared to the consensus estimate of $248.20 million. On average, research analysts expect that Procore Technologies will post -0.64 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.