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

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $82.5263.

Several equities research analysts have issued reports on PCOR shares. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. BTIG Research reiterated a “buy” rating and issued a $88.00 price objective on shares of Procore Technologies in a research report on Wednesday, December 17th. William Blair restated an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. Robert W. Baird upped their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd.

Procore Technologies Stock Down 0.9%

Shares of NYSE:PCOR opened at $51.27 on Friday. The company has a 50 day moving average price of $69.75 and a two-hundred day moving average price of $70.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $7.97 billion, a PE ratio of -61.03 and a beta of 0.89. Procore Technologies has a 52 week low of $49.40 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $338.85 million during the quarter, compared to analysts’ expectations of $328.13 million. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Analysts forecast that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 7,692 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $64.31, for a total value of $494,672.52. Following the sale, the director owned 1,035,212 shares in the company, valued at approximately $66,574,483.72. The trade was a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the transaction, the chairman directly owned 1,155,480 shares of the company’s stock, valued at $84,003,396. This represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 690,703 shares of company stock worth $50,266,998. 21.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Evoke Wealth LLC acquired a new stake in Procore Technologies in the 4th quarter valued at $912,000. FourThought Financial Partners LLC bought a new position in shares of Procore Technologies in the 4th quarter valued at about $223,000. Global Retirement Partners LLC grew its holdings in shares of Procore Technologies by 116.2% in the 4th quarter. Global Retirement Partners LLC now owns 843 shares of the company’s stock valued at $61,000 after acquiring an additional 453 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its position in shares of Procore Technologies by 4.4% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 108,689 shares of the company’s stock valued at $7,906,000 after acquiring an additional 4,608 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Procore Technologies by 105.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company’s stock worth $3,332,000 after acquiring an additional 23,555 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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. 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.