Brokerages Set Procore Technologies, Inc. (NYSE:PCOR) Price Target at $83.06

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned a consensus recommendation of “Moderate Buy” from the twenty research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $83.0556.

A number of research firms have recently commented on PCOR. Mizuho increased their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. BMO Capital Markets increased their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Piper Sandler increased their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. KeyCorp increased their price objective on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Citizens Jmp downgraded shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st.

Procore Technologies Stock Performance

PCOR opened at $65.5550 on Friday. The business’s 50-day moving average price is $68.90 and its two-hundred day moving average price is $68.99. Procore Technologies has a 1 year low of $52.78 and a 1 year high of $88.92. 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 company has a market capitalization of $9.85 billion, a price-to-earnings ratio of -68.29 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The company had revenue of $323.92 million during the quarter, compared to the consensus estimate of $311.91 million. During the same period in the prior year, the business posted $0.39 EPS. The company’s quarterly revenue 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. Equities analysts expect that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other news, Director Connor Kevin J. O sold 8,035 shares of the business’s stock in a transaction dated Thursday, July 10th. The shares were 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. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Lawrence Joseph Stack sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $65.33, for a total transaction of $163,325.00. Following the transaction, the executive owned 208,288 shares in the company, valued at $13,607,455.04. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,755 shares of company stock worth $42,406,565 over the last ninety days. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Procore Technologies by 277.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Procore Technologies during the 1st quarter worth about $49,000. Ancora Advisors LLC lifted its stake in shares of Procore Technologies by 10,625.0% during the 4th quarter. Ancora Advisors LLC now owns 858 shares of the company’s stock worth $64,000 after buying an additional 850 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Procore Technologies during the 2nd quarter worth about $62,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Procore Technologies during the 2nd quarter worth about $68,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.