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

Procore Technologies, Inc. (NYSE:PCOR) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.1053.

A number of equities analysts have commented on PCOR shares. Robert W. Baird lifted their price target on Procore Technologies from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. William Blair reaffirmed an “outperform” rating on shares of Procore Technologies in a research note on Friday, October 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $82.00 target price on shares of Procore Technologies in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Finally, BMO Capital Markets boosted their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, August 1st.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $71.99 on Friday. The stock has a market cap of $10.81 billion, a PE ratio of -74.99 and a beta of 0.90. The company’s fifty day moving average is $71.37 and its 200 day moving average is $68.71. Procore Technologies has a 52 week low of $53.71 and a 52 week high of $88.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The business had revenue of $172.21 million during the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%. Research analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Activity at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,205 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $63.67, for a total transaction of $267,732.35. Following the transaction, the insider owned 86,366 shares in the company, valued at $5,498,923.22. The trade was a 4.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 7,692 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total value of $509,825.76. Following the transaction, the director directly owned 1,146,405 shares in the company, valued at $75,983,723.40. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,724 shares of company stock worth $2,122,519 in the last 90 days. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its stake in shares of Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after acquiring an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Procore Technologies during the 3rd quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. raised its holdings in Procore Technologies by 277.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after buying an additional 385 shares during the period. SVB Wealth LLC purchased a new stake in shares of Procore Technologies in the first quarter valued at $49,000. Finally, First Horizon Corp purchased a new position in Procore Technologies during the 3rd quarter worth $49,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.