Procore Technologies, Inc. (NYSE:PCOR) Receives $80.94 Average PT from Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCORGet Free Report) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $80.94.

A number of research analysts have recently weighed in on PCOR shares. Piper Sandler reduced their target price on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. DA Davidson reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Thursday, March 14th. Mizuho reaffirmed a “neutral” rating and issued a $70.00 price objective (down from $75.00) on shares of Procore Technologies in a report on Tuesday, June 4th. JPMorgan Chase & Co. raised their price objective on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Procore Technologies in a report on Tuesday, June 11th.

View Our Latest Analysis on Procore Technologies

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the sale, the insider now owns 125,321 shares of the company’s stock, valued at approximately $10,295,120.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Steven Scott Davis sold 2,174 shares of Procore Technologies stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $65.77, for a total transaction of $142,983.98. Following the completion of the transaction, the insider now directly owns 217,478 shares of the company’s stock, valued at approximately $14,303,528.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Benjamin C. Singer sold 3,000 shares of Procore Technologies stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total transaction of $246,450.00. Following the transaction, the insider now directly owns 125,321 shares of the company’s stock, valued at $10,295,120.15. The disclosure for this sale can be found here. Insiders have sold a total of 302,576 shares of company stock valued at $21,709,095 in the last quarter. Insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares during the period. Cullen Frost Bankers Inc. bought a new position in Procore Technologies during the fourth quarter valued at approximately $62,000. Advisors Asset Management Inc. lifted its position in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Procore Technologies by 30.7% during 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 period. Finally, Covestor Ltd lifted its position in Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after purchasing an additional 300 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Trading Up 1.3 %

PCOR opened at $64.41 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The firm has a market capitalization of $9.42 billion, a PE ratio of -67.09 and a beta of 0.76. The company’s 50-day moving average is $68.18 and its 200 day moving average is $71.15.

Procore Technologies (NYSE:PCORGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $269.43 million for the quarter, compared to analyst estimates of $263.13 million. As a group, research analysts predict that Procore Technologies will post -0.35 earnings per share for the current fiscal year.

Procore Technologies Company Profile

(Get Free Report

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.

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