Analysts Set Procore Technologies, Inc. (NYSE:PCOR) PT at $81.86

Procore Technologies, Inc. (NYSE:PCOR) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $81.79.

Several research firms have recently commented on PCOR. KeyCorp increased their price target on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Barclays lowered their target price on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday. Mizuho reduced their price target on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets lowered their price objective on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, JMP Securities increased their price target on Procore Technologies from $81.00 to $93.00 and gave the stock a “market outperform” rating in a report on Friday, February 16th.

Procore Technologies Trading Down 1.6 %

Shares of PCOR opened at $68.14 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $9.87 billion, a price-to-earnings ratio of -70.98 and a beta of 0.78. The stock has a fifty day moving average price of $76.24 and a two-hundred day moving average price of $68.93. Procore Technologies has a 52-week low of $48.11 and a 52-week high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.37% and a negative net margin of 13.64%. The business had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Analysts predict that Procore Technologies will post -0.62 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following 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 related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm’s stock in a transaction on 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 $5,747,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the sale, the chief executive officer now owns 530,049 shares of the company’s stock, valued at approximately $36,557,479.53. The disclosure for this sale can be found here. Insiders sold a total of 533,544 shares of company stock worth $41,139,271 in the last three months. Insiders own 39.20% of the company’s stock.

Institutional Trading of Procore Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PCOR. Ellsworth Advisors LLC increased its holdings in shares of Procore Technologies by 3.0% during the 4th quarter. Ellsworth Advisors LLC now owns 5,901 shares of the company’s stock worth $408,000 after acquiring an additional 170 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Procore Technologies by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company’s stock valued at $1,692,000 after purchasing an additional 200 shares during the period. Portside Wealth Group LLC lifted its stake in shares of Procore Technologies by 7.5% during the 3rd quarter. Portside Wealth Group LLC now owns 3,311 shares of the company’s stock worth $215,000 after buying an additional 231 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Procore Technologies by 3.8% during the 1st quarter. Fifth Third Bancorp now owns 7,163 shares of the company’s stock worth $589,000 after buying an additional 263 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

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.