Procore Technologies, Inc. (NYSE:PCOR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $86.00.

A number of equities research analysts recently issued reports on the stock. JMP Securities upped their price objective on shares of Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. raised their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Stifel Nicolaus upped their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Canaccord Genuity Group raised their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd.

Insider Buying and Selling at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the completion of the sale, the senior vice president now directly owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the transaction, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,475 shares of company stock valued at $10,824,010. 29.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. Versant Capital Management Inc raised its position in shares of Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 3rd quarter valued at about $26,000. Hilltop National Bank bought a new position in shares of Procore Technologies in the 4th quarter valued at about $53,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Trading Up 2.9 %

Procore Technologies stock opened at $81.74 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $86.67. The company’s fifty day simple moving average is $78.25 and its 200-day simple moving average is $67.83. The stock has a market cap of $12.15 billion, a P/E ratio of -163.47 and a beta of 0.83.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. As a group, sell-side analysts forecast that Procore Technologies will post -0.22 EPS for the current fiscal year.

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.