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

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been assigned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $77.0526.

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Procore Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. DA Davidson decreased their price objective on Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Barclays lowered their price objective on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, KeyCorp dropped their target price on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, February 6th.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Chairman Craig F. Jr. Courtemanche sold 56,121 shares of Procore Technologies stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $57.23, for a total value of $3,211,804.83. Following the completion of the sale, the chairman owned 927,580 shares in the company, valued at $53,085,403.40. The trade was a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin C. Singer sold 4,225 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider directly owned 64,660 shares of the company’s stock, valued at $3,233,000. This represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 94,641 shares of company stock valued at $5,369,546 in the last three months. 21.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in Procore Technologies by 23.6% during the third quarter. Versant Capital Management Inc now owns 938 shares of the company’s stock worth $68,000 after buying an additional 179 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after acquiring an additional 199 shares in the last quarter. Intellectus Partners LLC raised its holdings in Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock valued at $912,000 after acquiring an additional 200 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Procore Technologies by 1.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock valued at $1,068,000 after acquiring an additional 202 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after acquiring an additional 204 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Up 0.2%

Shares of PCOR opened at $54.35 on Monday. The firm has a market cap of $8.16 billion, a P/E ratio of -81.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.32. Procore Technologies has a 52 week low of $46.08 and a 52 week high of $82.32. The firm’s 50-day simple moving average is $56.43 and its 200 day simple moving average is $67.50.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The firm had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. During the same period last year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts forecast 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.