Investment Analysts’ Recent Ratings Updates for Procore Technologies (PCOR)

Posted by Teresa Graham on May 7th, 2024

A number of research firms have changed their ratings and price targets for Procore Technologies (NYSE: PCOR):

5/2/2024 – Procore Technologies had its price target lowered by analysts at Barclays PLC from $83.00 to $78.00. They now have an “overweight” rating on the stock.
5/2/2024 – Procore Technologies had its price target raised by analysts at JPMorgan Chase & Co. from $83.00 to $86.00. They now have an “overweight” rating on the stock.
5/2/2024 – Procore Technologies had its price target lowered by analysts at Piper Sandler from $80.00 to $77.00. They now have an “overweight” rating on the stock.
5/2/2024 – Procore Technologies had its price target lowered by analysts at BMO Capital Markets from $90.00 to $85.00. They now have an “outperform” rating on the stock.
5/2/2024 – Procore Technologies had its price target lowered by analysts at Canaccord Genuity Group Inc. from $95.00 to $80.00. They now have a “buy” rating on the stock.
5/2/2024 – Procore Technologies had its price target lowered by analysts at Mizuho from $80.00 to $75.00. They now have a “buy” rating on the stock.
3/14/2024 – Procore Technologies had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $95.00 price target on the stock.

Procore Technologies Trading Up 0.3 %

Procore Technologies stock traded up $0.19 during trading on Tuesday, hitting $68.71. The company’s stock had a trading volume of 500,996 shares, compared to its average volume of 1,271,300. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of -71.57 and a beta of 0.78. The stock’s fifty day moving average is $76.12 and its 200 day moving average is $68.96. Procore Technologies, Inc. has a 1-year low of $48.11 and a 1-year high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61.

Procore Technologies (NYSE:PCOR – Get Free Report) last released its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The firm had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million. As a group, equities research analysts predict that Procore Technologies, Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now owns 77,768 shares of the company’s stock, valued at $5,747,055.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Benjamin C. Singer sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.05, for a total value of $207,150.00. Following the completion of the sale, the insider now owns 122,321 shares of the company’s stock, valued at $8,446,265.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $446,429.90. Following the completion of the transaction, the senior vice president now directly owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 533,544 shares of company stock valued at $41,139,271. Company insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Xponance Inc. raised its stake in Procore Technologies by 4.4% during the third quarter. Xponance Inc. now owns 11,364 shares of the company’s stock valued at $742,000 after buying an additional 481 shares in the last quarter. Raymond James & Associates acquired a new stake in Procore Technologies during the third quarter valued at approximately $261,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Procore Technologies during the third quarter valued at approximately $304,000. Bank of New York Mellon Corp raised its position in shares of Procore Technologies by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 454,477 shares of the company’s stock worth $29,686,000 after purchasing an additional 17,111 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Procore Technologies by 32.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,425 shares of the company’s stock worth $1,073,000 after purchasing an additional 3,992 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.