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

Shares of Procore Technologies, Inc. (NYSE:PCOR) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $81.79.

PCOR has been the subject of several research analyst reports. Canaccord Genuity Group dropped their target price on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. JMP Securities upped their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. The Goldman Sachs Group raised their price target on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus lifted their price target on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, DA Davidson reiterated a “buy” rating and set a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th.

Procore Technologies Price Performance

NYSE:PCOR opened at $68.14 on Monday. Procore Technologies has a 52-week low of $48.11 and a 52-week high of $83.35. The stock has a fifty day moving average of $76.35 and a 200 day moving average of $68.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of -70.98 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. The firm had revenue of $260.04 million during the quarter, compared to the consensus estimate of $248.20 million. On average, research analysts expect that Procore Technologies will post -0.64 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the sale, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total value of $4,689,960.00. Following the sale, the chief executive officer now directly owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $75.00, for a total value of $600,000.00. Following the transaction, the insider now directly owns 116,318 shares of the company’s stock, valued at approximately $8,723,850. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 538,672 shares of company stock worth $41,509,564. Insiders own 39.20% of the company’s stock.

Institutional Trading of Procore Technologies

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in Procore Technologies by 2,600.0% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the company’s stock valued at $25,000 after acquiring an additional 364 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of Procore Technologies during the third quarter valued at approximately $36,000. International Assets Investment Management LLC grew its stake in Procore Technologies by 6,823.1% in the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 887 shares during the period. Cullen Frost Bankers Inc. bought a new position in Procore Technologies in the fourth quarter worth $62,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

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.