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

Procore Technologies, Inc. (NYSE:PCOR) has been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $80.24.

A number of equities research analysts have issued reports on the stock. Scotiabank reduced their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 24th. Mizuho reduced their price target on shares of Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. DA Davidson upgraded shares of Procore Technologies to a “hold” rating in a research note on Tuesday, May 13th. KeyCorp reduced their price target on shares of Procore Technologies from $96.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, JMP Securities raised their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th.

Procore Technologies Price Performance

NYSE:PCOR opened at $65.57 on Tuesday. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $88.92. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of -91.07 and a beta of 0.90. The firm’s 50-day simple moving average is $64.47 and its 200 day simple moving average is $72.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Procore Technologies’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, sell-side analysts predict that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $67.10, for a total value of $344,088.80. Following the transaction, the director now directly owns 1,226,240 shares of the company’s stock, valued at approximately $82,280,704. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 4,203 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the transaction, the insider now directly owns 102,057 shares in the company, valued at $7,032,747.87. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,981 shares of company stock worth $2,941,093 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its holdings in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 147 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after purchasing an additional 162 shares during the last quarter. Huntington National Bank lifted its holdings in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after purchasing an additional 404 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Procore Technologies during the first quarter valued at about $49,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.