Brokerages Set Procore Technologies, Inc. (NYSE:PCOR) Target Price at $83.11

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.1053.

A number of research firms recently weighed in on PCOR. Citizens Jmp downgraded Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. Mizuho upped their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Stifel Nicolaus upped their price target on Procore Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Finally, Berenberg Bank began coverage on Procore Technologies in a research note on Friday, October 3rd. They set a “buy” rating and a $84.00 price target on the stock.

Insider Buying and Selling

In related news, CFO Howard Fu sold 814 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $72.34, for a total value of $58,884.76. Following the transaction, the chief financial officer owned 187,847 shares of the company’s stock, valued at approximately $13,588,851.98. This trade represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total transaction of $509,825.76. Following the completion of the transaction, the director directly owned 1,146,405 shares in the company, valued at approximately $75,983,723.40. The trade was a 0.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,724 shares of company stock valued at $2,122,519. 21.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp bought a new stake in Procore Technologies during the third quarter worth $57,000. Jones Financial Companies Lllp grew its holdings in Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after buying an additional 199 shares in the last quarter. State of Wyoming grew its holdings in Procore Technologies by 19.4% during the third quarter. State of Wyoming now owns 5,602 shares of the company’s stock worth $408,000 after buying an additional 912 shares in the last quarter. TFB Advisors LLC grew its holdings in Procore Technologies by 26.1% during the third quarter. TFB Advisors LLC now owns 4,581 shares of the company’s stock worth $331,000 after buying an additional 947 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Procore Technologies by 12.2% during the third quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after buying an additional 360,207 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR opened at $70.80 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.63 billion, a P/E ratio of -73.75 and a beta of 0.90. The firm’s fifty day simple moving average is $71.76 and its two-hundred day simple moving average is $69.12. Procore Technologies has a 12 month low of $53.71 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. As a group, analysts predict that Procore Technologies will post -0.15 EPS for the current 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.