Procore Technologies, Inc. (NYSE:PCOR) Receives Average Rating of “Moderate Buy” from Analysts

Procore Technologies, Inc. (NYSE:PCOR) has received an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $86.00.

PCOR has been the topic of a number of recent analyst reports. JMP Securities increased their price objective on shares of Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Monday, December 2nd. BMO Capital Markets increased their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. The Goldman Sachs Group increased their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Scotiabank increased their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group increased their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd.

Procore Technologies Trading Down 1.7 %

Shares of NYSE:PCOR opened at $75.00 on Friday. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $86.67. The company’s 50 day moving average is $76.41 and its two-hundred day moving average is $66.82. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $11.15 billion, a PE ratio of -150.00 and a beta of 0.83.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS 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 company had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Equities analysts predict that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

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 shares were 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 owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the sale, the insider now owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,693 shares of company stock worth $10,479,096 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies in the 3rd quarter valued at about $26,000. Versant Capital Management Inc increased its holdings in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Signaturefd LLC increased its holdings in shares of 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 purchasing an additional 216 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.