BTIG Research Upgrades Procore Technologies (NYSE:PCOR) to “Strong-Buy”

Procore Technologies (NYSE:PCOR) was upgraded by BTIG Research to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

PCOR has been the topic of a number of other reports. KeyCorp lifted their price target on shares of Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. BMO Capital Markets raised their target price on shares of Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Canaccord Genuity Group increased their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Robert W. Baird lifted their price objective on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Procore Technologies Stock Performance

NYSE PCOR opened at $73.43 on Tuesday. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of -87.41 and a beta of 0.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $74.14 and a 200-day moving average price of $71.03. Procore Technologies has a twelve month low of $53.71 and a twelve month high of $88.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The business had revenue of $172.21 million for the quarter. As a group, equities research analysts predict that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In other news, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the transaction, the chairman owned 1,155,480 shares of the company’s stock, valued at approximately $84,003,396. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 9,615 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $75.13, for a total value of $722,374.95. Following the completion of the sale, the director owned 1,052,519 shares in the company, valued at approximately $79,075,752.47. The trade was a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 691,739 shares of company stock worth $50,389,537. 21.50% of the stock is currently owned by insiders.

Institutional Trading of Procore Technologies

A number of large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC increased its stake in Procore Technologies by 465.2% in the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after buying an additional 321 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Procore Technologies in the third quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. lifted its stake in Procore Technologies by 277.0% in the first 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 period. Jones Financial Companies Lllp grew its holdings in Procore Technologies by 70.8% during 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 position in Procore Technologies during the 1st quarter valued at about $49,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.