Analysts Set Procore Technologies, Inc. (NYSE:PCOR) PT at $85.11

Shares of Procore Technologies, Inc. (NYSE:PCOR) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $85.1111.

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. Piper Sandler boosted their price target on Procore Technologies from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. William Blair reissued an “outperform” rating on shares of Procore Technologies in a research note on Friday, October 17th. Finally, KeyCorp lifted their target price on Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th.

Insider Activity

In related news, CRO Lawrence Joseph Stack sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $75.30, for a total value of $753,000.00. Following the completion of the sale, the executive directly owned 184,128 shares of the company’s stock, valued at $13,864,838.40. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J.G. Griffith sold 207,474 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $72.30, for a total transaction of $15,000,370.20. Following the transaction, the director owned 3,244,546 shares in the company, valued at approximately $234,580,675.80. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 683,825 shares of company stock valued at $49,831,210. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Procore Technologies

Institutional investors have recently modified their holdings of the company. Brighton Jones LLC bought a new position in shares of Procore Technologies during the 4th quarter worth approximately $511,000. Goldman Sachs Group Inc. grew its holdings in Procore Technologies by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 732,988 shares of the company’s stock worth $48,392,000 after purchasing an additional 36,426 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Procore Technologies by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 350,746 shares of the company’s stock worth $23,156,000 after purchasing an additional 52,507 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Procore Technologies by 7.1% during the 2nd quarter. Parallel Advisors LLC now owns 6,643 shares of the company’s stock valued at $455,000 after purchasing an additional 440 shares during the last quarter. Finally, First Bank & Trust lifted its holdings in shares of Procore Technologies by 7.3% during the 2nd quarter. First Bank & Trust now owns 6,293 shares of the company’s stock valued at $431,000 after purchasing an additional 427 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

Shares of PCOR stock opened at $68.20 on Wednesday. The stock has a 50 day moving average price of $74.13 and a 200 day moving average price of $71.98. Procore Technologies has a 52-week low of $53.71 and a 52-week high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $10.60 billion, a P/E ratio of -81.19 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $338.85 million for the quarter, compared to analyst estimates of $328.13 million. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, sell-side analysts predict that Procore Technologies will post -0.15 earnings per share for the current 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.