Procore Technologies, Inc. (NYSE:PCOR) Receives $82.06 Consensus Price Target from Analysts

Procore Technologies, Inc. (NYSE:PCOR) has received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $83.71.

A number of research firms have weighed in on PCOR. JMP Securities boosted their target price on shares of Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group boosted their price objective on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Barclays lifted their price target on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Scotiabank upped their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, November 18th.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the sale, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Scott Davis sold 9,671 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $65.00, for a total transaction of $628,615.00. Following the sale, the insider now directly owns 192,137 shares of the company’s stock, valued at approximately $12,488,905. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,295 shares of company stock worth $11,185,742 over the last quarter. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc increased its stake in Procore Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after purchasing an additional 143 shares in the last quarter. Tanager Wealth Management LLP grew its holdings in shares of Procore Technologies by 1.2% during the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock valued at $834,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in shares of Procore Technologies by 0.3% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after acquiring an additional 180 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

NYSE:PCOR opened at $78.82 on Tuesday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $86.67. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $70.80 and its 200 day simple moving average is $65.29. The firm has a market capitalization of $11.72 billion, a PE ratio of -157.64 and a beta of 0.82.

Procore Technologies (NYSE:PCOR) last posted 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). The company had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, analysts anticipate that Procore Technologies will post -0.23 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.