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

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $84.6667.

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. Canaccord Genuity Group lifted their price target on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. KeyCorp lifted their price objective on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. BTIG Research reaffirmed a “buy” rating and issued a $88.00 price target on shares of Procore Technologies in a research report on Wednesday. Finally, DA Davidson upgraded Procore Technologies to a “hold” rating in a research note on Friday, November 7th.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 9,615 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $75.13, for a total transaction of $722,374.95. Following the completion of the transaction, the director owned 1,052,519 shares of the company’s stock, valued at approximately $79,075,752.47. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J.G. Griffith sold 207,474 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the completion of the transaction, the director directly owned 3,244,546 shares in the company, valued at approximately $234,580,675.80. This represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 691,739 shares of company stock worth $50,389,537. 21.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently modified their holdings of PCOR. Alliancebernstein L.P. lifted its position in shares of Procore Technologies by 493.9% in the 3rd quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock worth $445,391,000 after buying an additional 5,079,534 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Procore Technologies by 76.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company’s stock worth $294,449,000 after buying an additional 1,750,998 shares during the period. Wasatch Advisors LP grew its stake in shares of Procore Technologies by 58.4% in the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company’s stock worth $318,592,000 after purchasing an additional 1,717,492 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Procore Technologies by 77.6% in the third quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company’s stock valued at $248,066,000 after acquiring an additional 1,486,153 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in Procore Technologies by 245.9% during the third quarter. Holocene Advisors LP now owns 1,987,188 shares of the company’s stock worth $144,906,000 after acquiring an additional 1,412,721 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Down 0.2%

NYSE PCOR opened at $74.20 on Friday. The company has a market capitalization of $11.54 billion, a P/E ratio of -88.33 and a beta of 0.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $74.22 and its 200-day moving average price is $71.12. Procore Technologies has a 52 week low of $53.71 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The company had revenue of $172.21 million during the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. On average, equities research analysts predict that Procore Technologies will post -0.15 earnings per share for the current year.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.