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

Procore Technologies, Inc. (NYSE:PCOR) has earned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $72.5625.

A number of research firms recently weighed in on PCOR. TD Cowen decreased their target price on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Barclays decreased their target price on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Zacks Research raised shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Citizens Jmp raised shares of Procore Technologies from a “market perform” rating to a “market outperform” rating and set a $71.00 price target on the stock in a report on Wednesday, April 29th. Finally, Piper Sandler decreased their price target on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th.

Insider Transactions at Procore Technologies

In other news, insider Benjamin C. Singer sold 3,942 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $50.00, for a total value of $197,100.00. Following the transaction, the insider owned 96,723 shares of the company’s stock, valued at $4,836,150. This represents a 3.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $47.64, for a total transaction of $2,673,652.08. Following the completion of the transaction, the chairman directly owned 927,580 shares in the company, valued at $44,189,911.20. The trade was a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 178,077 shares of company stock valued at $8,564,311 in the last quarter. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors have recently made changes to their positions in the stock. Argos Wealth Advisors LLC increased its holdings in shares of Procore Technologies by 3.9% in the 1st quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock worth $294,000 after buying an additional 195 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares during the last quarter. Intellectus Partners LLC increased its holdings in shares of Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock worth $912,000 after buying an additional 200 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Procore Technologies by 1.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock worth $1,068,000 after buying an additional 202 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Procore Technologies stock opened at $42.37 on Friday. The firm’s 50 day simple moving average is $50.99 and its 200 day simple moving average is $59.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $6.39 billion, a PE ratio of -83.07 and a beta of 0.73. Procore Technologies has a 1-year low of $40.74 and a 1-year high of $82.32.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The business’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. As a group, analysts expect that Procore Technologies will post 0.06 earnings per share for the current fiscal 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.