Procore Technologies, Inc. (NYSE:PCOR) Receives $80.24 Consensus Price Target from Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $80.24.

A number of research analysts have commented on PCOR shares. DA Davidson decreased their price target on Procore Technologies from $80.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. JMP Securities upped their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Mizuho dropped their price objective on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group cut their target price on shares of Procore Technologies from $110.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 24th.

Procore Technologies Stock Performance

NYSE PCOR opened at $72.28 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The stock’s fifty day moving average is $64.75 and its two-hundred day moving average is $72.50. The firm has a market capitalization of $10.78 billion, a P/E ratio of -100.39 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $310.63 million during the quarter, compared to analysts’ expectations of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Howard Fu sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the sale, the chief financial officer now directly owns 156,188 shares of the company’s stock, valued at $13,588,356. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the transaction, the executive now owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. The trade was a 6.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,142 shares of company stock worth $4,119,407 over the last ninety days. 29.00% of the stock is owned by company insiders.

Institutional Trading of Procore Technologies

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares in the last quarter. Huntington National Bank raised its stake in shares of Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after buying an additional 404 shares in the last quarter. Hilltop National Bank acquired a new stake in Procore Technologies in the 4th quarter valued at about $53,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after buying an additional 674 shares in 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.