Procore Technologies (NYSE:PCOR) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of Procore Technologies (NYSE:PCOR) in a research note released on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $105.00 price objective on the stock.

PCOR has been the topic of a number of other reports. KeyCorp upped their price target on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird started coverage on Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. BMO Capital Markets raised their price target on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group upped their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, November 18th. Finally, Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.65.

Procore Technologies Price Performance

Shares of PCOR stock opened at $80.82 on Monday. The stock’s 50-day moving average is $66.45 and its 200 day moving average is $64.35. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $12.02 billion, a P/E ratio of -161.00 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Research analysts predict that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the sale, the director now directly owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathryn Bueker sold 6,500 shares of Procore Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.01, for a total transaction of $507,065.00. Following the completion of the transaction, the director now directly owns 23,932 shares of the company’s stock, valued at $1,866,935.32. The trade was a 21.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,553 shares of company stock worth $7,933,974 over the last quarter. 29.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procore Technologies

Hedge funds have recently bought and sold shares of the business. Synovus Financial Corp raised its stake in shares of Procore Technologies by 24.3% during the 3rd quarter. Synovus Financial Corp now owns 6,465 shares of the company’s stock worth $399,000 after buying an additional 1,262 shares during the period. Tidal Investments LLC increased its holdings in Procore Technologies by 237.8% in the 3rd quarter. Tidal Investments LLC now owns 17,538 shares of the company’s stock worth $1,082,000 after acquiring an additional 12,346 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Procore Technologies in the 3rd quarter worth $227,000. Coldstream Capital Management Inc. acquired a new position in Procore Technologies during the third quarter worth $235,000. Finally, Geode Capital Management LLC lifted its holdings in Procore Technologies by 10.9% during the third quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company’s stock valued at $105,967,000 after purchasing an additional 168,769 shares in the last quarter. Hedge funds and other 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.