Procore Technologies, Inc. (NYSE:PCOR) Receives $77.05 Consensus PT from Brokerages

Procore Technologies, Inc. (NYSE:PCOR) has been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $76.3333.

A number of brokerages have recently issued reports on PCOR. Canaccord Genuity Group lowered their price target on Procore Technologies from $90.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, February 13th. BTIG Research reiterated a “buy” rating and issued a $66.00 price objective on shares of Procore Technologies in a report on Wednesday, March 11th. Piper Sandler decreased their target price on Procore Technologies from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Stifel Nicolaus lowered their target price on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, KeyCorp dropped their price target on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 814 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $72.99, for a total value of $59,413.86. Following the sale, the chief financial officer owned 178,237 shares in the company, valued at approximately $13,009,518.63. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider directly owned 64,660 shares of the company’s stock, valued at approximately $3,233,000. This trade represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 94,641 shares of company stock worth $5,369,546 in the last three months. 21.50% of the stock is currently owned by company insiders.

Institutional Trading of Procore Technologies

Several large investors have recently modified their holdings of PCOR. Global Retirement Partners LLC lifted its holdings in Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock valued at $28,000 after acquiring an additional 321 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Procore Technologies during the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp grew its stake in shares of Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 199 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies during the 4th quarter valued at about $41,000. Finally, Allworth Financial LP increased its position in shares of Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $46,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $57.36 on Monday. Procore Technologies has a twelve month low of $46.08 and a twelve month high of $82.32. The firm has a market cap of $8.61 billion, a P/E ratio of -85.61 and a beta of 0.85. The company has a 50 day moving average of $55.92 and a 200 day moving average of $67.23. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The company’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. As a group, research analysts expect that Procore Technologies will post -0.15 EPS for the current fiscal year.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.