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

Procore Technologies, Inc. (NYSE:PCOR) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $81.86.

Several brokerages have commented on PCOR. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group lifted their price objective on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. JMP Securities lifted their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. BMO Capital Markets lifted their target price on shares of Procore Technologies from $76.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, Piper Sandler lifted their target price on shares of Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $82.15, for a total value of $246,450.00. Following the completion of the transaction, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Procore Technologies news, insider Benjamin C. Singer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $82.15, for a total value of $246,450.00. Following the completion of the transaction, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $81.30, for a total transaction of $5,528,400.00. Following the completion of the sale, the chief executive officer now owns 531,399 shares of the company’s stock, valued at $43,202,738.70. The disclosure for this sale can be found here. Insiders sold a total of 466,949 shares of company stock valued at $36,445,828 in the last quarter. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds have recently made changes to their positions in PCOR. Vanguard Group Inc. increased its position in Procore Technologies by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock valued at $557,746,000 after purchasing an additional 995,757 shares during the period. California Public Employees Retirement System lifted its stake in shares of Procore Technologies by 31.8% in the 3rd quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock worth $9,101,000 after purchasing an additional 33,590 shares during the period. Rhumbline Advisers raised its stake in Procore Technologies by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 111,137 shares of the company’s stock worth $7,259,000 after acquiring an additional 2,073 shares during the period. Lisanti Capital Growth LLC bought a new stake in Procore Technologies during the 3rd quarter worth approximately $2,922,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in Procore Technologies during the 3rd quarter worth approximately $7,328,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Down 0.7 %

PCOR opened at $78.05 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50-day moving average is $76.59 and its 200 day moving average is $67.93. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The firm has a market capitalization of $11.20 billion, a P/E ratio of -58.68 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative net margin of 19.97% and a negative return on equity of 12.26%. Research analysts expect that Procore Technologies will post -0.64 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.