Procore Technologies’ (PCOR) “Neutral” Rating Reaffirmed at Mizuho

Mizuho reaffirmed their neutral rating on shares of Procore Technologies (NYSE:PCORFree Report) in a research note released on Tuesday morning, Marketbeat.com reports. They currently have a $70.00 target price on the stock, down from their previous target price of $75.00.

Several other equities research analysts have also recently weighed in on the company. JMP Securities upped their target price on Procore Technologies from $81.00 to $93.00 and gave the stock a market outperform rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their price target on Procore Technologies from $83.00 to $86.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. DA Davidson reiterated a buy rating and issued a $95.00 price target on shares of Procore Technologies in a research note on Thursday, March 14th. The Goldman Sachs Group increased their price target on Procore Technologies from $74.00 to $85.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, Canaccord Genuity Group dropped their price target on Procore Technologies from $95.00 to $80.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $81.43.

Read Our Latest Analysis on Procore Technologies

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $65.25 on Tuesday. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The business’s 50 day moving average price is $71.61 and its two-hundred day moving average price is $70.67. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. The company has a market cap of $9.55 billion, a PE ratio of -67.97 and a beta of 0.76.

Procore Technologies (NYSE:PCORGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.15. The company had revenue of $269.43 million for the quarter, compared to the consensus estimate of $263.13 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. On average, analysts predict that Procore Technologies will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 8,000 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 transaction of $640,000.00. Following the completion of the transaction, the insider now owns 93,865 shares in the company, valued at approximately $7,509,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Procore Technologies news, insider Benjamin C. Singer sold 8,000 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 transaction of $640,000.00. Following the completion of the transaction, the insider now owns 93,865 shares in the company, valued at approximately $7,509,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of Procore Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total value of $223,701.96. Following the transaction, the senior vice president now owns 87,248 shares of the company’s stock, valued at approximately $6,122,192.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 407,020 shares of company stock worth $31,101,714. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Several institutional investors have recently bought and sold shares of PCOR. International Assets Investment Management LLC raised its holdings in Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after acquiring an additional 887 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Procore Technologies during the 4th quarter valued at $62,000. Advisors Asset Management Inc. raised its holdings in Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after acquiring an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after acquiring an additional 297 shares during the period. Finally, Covestor Ltd raised its holdings in Procore Technologies by 29.3% during the 1st quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Procore Technologies

(Get Free Report)

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.

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Analyst Recommendations for Procore Technologies (NYSE:PCOR)

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