Procore Technologies, Inc. (NYSE:PCOR) Receives $90.24 Average PT from Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $90.24.

PCOR has been the topic of several recent analyst reports. JMP Securities boosted their target price 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. Barclays boosted their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus boosted their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Macquarie dropped their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th.

Insider Activity at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $17,480. This represents a 84.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the sale, the insider now owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,104 shares of company stock worth $5,541,738 over the last quarter. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust increased 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 worth $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC raised its position in Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares during the period. Huntington National Bank boosted its stake in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock valued at $49,000 after acquiring an additional 404 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Procore Technologies in the fourth quarter valued at about $53,000. 81.10% of the stock is owned by institutional investors.

Procore Technologies Stock Up 1.3 %

NYSE PCOR opened at $70.37 on Thursday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $88.92. The stock has a market cap of $10.55 billion, a PE ratio of -97.73 and a beta of 0.85. The firm has a 50-day simple moving average of $76.38 and a 200 day simple moving average of $71.53. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, research analysts forecast that Procore Technologies will post -0.15 EPS for the current 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.