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

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $90.24.

PCOR has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. UBS Group increased their price objective on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Mizuho upped their price target on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Barclays lifted their target price on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, JMP Securities lifted their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 18th.

Procore Technologies Stock Down 3.2 %

PCOR opened at $70.06 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies has a one year low of $49.46 and a one year high of $88.92. The firm has a market capitalization of $10.50 billion, a P/E ratio of -97.30 and a beta of 0.85. The company has a fifty day moving average price of $76.15 and a 200-day moving average price of $71.87.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Equities research analysts expect that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $73.62, for a total transaction of $377,523.36. Following the transaction, the director now owns 1,264,700 shares of the company’s stock, valued at approximately $93,107,214. This trade represents a 0.40 % 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, CFO Howard Fu sold 1,447 shares of Procore Technologies stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $68.79, for a total value of $99,539.13. Following the transaction, the chief financial officer now directly owns 144,713 shares in the company, valued at approximately $9,954,807.27. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock worth $5,427,468 over the last 90 days. 29.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Diversified Trust Co increased its position in Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after buying an additional 30,948 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after purchasing an additional 272,030 shares during the period. US Bancorp DE increased its holdings in Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company’s stock valued at $1,605,000 after purchasing an additional 3,390 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Procore Technologies in the fourth quarter valued at approximately $20,729,000. Finally, Barclays PLC increased its position in shares of Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after acquiring an additional 22,734 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.