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

Procore Technologies, Inc. (NYSE:PCOR) has received an average recommendation of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $83.0556.

Several research firms have recently commented on PCOR. Robert W. Baird increased their target price on Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. KeyCorp increased their price objective on shares of Procore Technologies from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Arete initiated coverage on shares of Procore Technologies in a report on Monday, June 16th. They set a “buy” rating and a $91.00 price objective for the company. Barclays upped their target price on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Finally, Piper Sandler increased their price target on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,035 shares of the firm’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $72.36, for a total transaction of $581,412.60. Following the transaction, the director directly owned 1,154,097 shares in the company, valued at $83,510,458.92. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of Procore Technologies stock in a transaction on Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $12,485,922.28. Following the completion of the transaction, the insider directly owned 3,137,255 shares of the company’s stock, valued at approximately $203,168,633.80. This represents a 5.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 661,949 shares of company stock worth $43,071,686. 21.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in Procore Technologies during the fourth quarter worth about $511,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Procore Technologies during the fourth quarter valued at approximately $273,000. BNP Paribas Financial Markets acquired a new stake in shares of Procore Technologies during the 4th quarter worth approximately $1,058,000. Balyasny Asset Management L.P. bought a new stake in shares of Procore Technologies in the 4th quarter worth approximately $867,000. Finally, Captrust Financial Advisors acquired a new position in Procore Technologies during the 4th quarter valued at approximately $224,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Down 2.1%

Shares of Procore Technologies stock opened at $68.55 on Thursday. Procore Technologies has a 1-year low of $52.78 and a 1-year high of $88.92. The company has a market capitalization of $10.29 billion, a PE ratio of -71.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50-day moving average of $69.24 and a 200-day moving average of $67.75.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The firm had revenue of $323.92 million during the quarter, compared to the consensus estimate of $311.91 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. Procore Technologies’s revenue for the quarter was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Procore Technologies will post -0.15 EPS 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.