Procore Technologies, Inc. (NYSE:PCOR) Receives $84.24 Consensus PT from Brokerages

Procore Technologies, Inc. (NYSE:PCOR) has earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $86.00.

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Robert W. Baird raised their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Barclays lifted their price objective on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Canaccord Genuity Group boosted their price target on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th.

Procore Technologies Stock Up 0.6 %

Shares of NYSE:PCOR opened at $76.32 on Friday. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of -152.64 and a beta of 0.83. The business’s 50 day moving average is $76.03 and its 200 day moving average is $66.67. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. On average, sell-side analysts forecast that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the sale, the senior vice president now owns 75,120 shares of the company’s stock, valued at approximately $5,314,740. This represents a 16.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of Procore Technologies stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $71.04, for a total transaction of $876,633.60. Following the completion of the transaction, the insider now owns 2,284,989 shares in the company, valued at approximately $162,325,618.56. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 142,693 shares of company stock worth $10,479,096 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PCOR. CIBC Asset Management Inc lifted its position in Procore Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after purchasing an additional 143 shares during the last quarter. Tanager Wealth Management LLP boosted its position in Procore Technologies by 1.3% during the 3rd quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock valued at $787,000 after buying an additional 168 shares during the period. GAMMA Investing LLC grew its holdings in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during 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.