Procore Technologies, Inc. (NYSE:PCOR) Receives $84.47 Average Target Price from Analysts

Procore Technologies, Inc. (NYSE:PCOR) has earned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $84.4706.

Several equities research analysts have weighed in on PCOR shares. Citizens Jmp downgraded shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson upgraded Procore Technologies to a “hold” rating in a report on Friday, November 7th. Canaccord Genuity Group upped their target price on Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th.

Procore Technologies Trading Up 0.1%

Shares of PCOR stock opened at $73.91 on Tuesday. Procore Technologies has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50 day simple moving average of $73.34 and a two-hundred day simple moving average of $70.41. The company has a market cap of $11.49 billion, a P/E ratio of -87.98 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The company had revenue of $172.21 million for the quarter. Research analysts forecast that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,204 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $69.21, for a total value of $290,958.84. Following the transaction, the insider owned 75,676 shares of the company’s stock, valued at approximately $5,237,535.96. This trade represents a 5.26% 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, Chairman Craig F. Jr. Courtemanche sold 300,000 shares of Procore Technologies stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $71.91, for a total value of $21,573,000.00. Following the transaction, the chairman owned 677,796 shares of the company’s stock, valued at $48,740,310.36. This trade represents a 30.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 397,342 shares of company stock valued at $29,019,501. Corporate insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCOR. Global Retirement Partners LLC grew its holdings in Procore Technologies by 465.2% during the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after buying an additional 321 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Procore Technologies during the 3rd quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Procore Technologies by 277.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after acquiring an additional 385 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Procore Technologies in the first quarter valued at about $49,000. 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.