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

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $69.31.

A number of equities analysts have recently weighed in on the stock. JMP Securities cut their price objective on shares of Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating for the company in a research report on Friday, August 2nd. Macquarie reiterated a “neutral” rating and issued a $70.00 price target on shares of Procore Technologies in a report on Tuesday, July 30th. DA Davidson cut Procore Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $90.00 to $60.00 in a report on Friday, August 2nd. BMO Capital Markets dropped their target price on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho reiterated a “neutral” rating and set a $70.00 target price (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th.

Insider Buying and Selling at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP William Fred Fleming, Jr. sold 2,707 shares of Procore Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Connor Kevin J. O sold 3,846 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the transaction, the director now directly owns 1,444,313 shares of the company’s stock, valued at $77,487,392.45. The disclosure for this sale can be found here. Insiders have sold 173,675 shares of company stock valued at $10,893,468 over the last three months. 29.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently bought and sold shares of the business. Tanager Wealth Management LLP grew its position in shares of Procore Technologies by 1.2% during the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its stake in Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after acquiring an additional 180 shares during the last quarter. Signaturefd LLC grew its holdings in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Procore Technologies by 26.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after purchasing an additional 260 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Procore Technologies by 3.8% in the 1st quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock valued at $589,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Performance

NYSE:PCOR opened at $54.23 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $7.94 billion, a P/E ratio of -56.49 and a beta of 0.73. The firm has a 50-day moving average price of $62.40 and a two-hundred day moving average price of $68.72. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm had revenue of $284.30 million for the quarter, compared to analyst estimates of $275.26 million. During the same quarter in the prior year, the company earned ($0.28) EPS. Procore Technologies’s revenue was up 24.4% on a year-over-year basis. As a group, research analysts expect that Procore Technologies will post -0.28 earnings per share 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.