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

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-two research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $82.5263.

• Reversal in play for Procore Technologies

PCOR has been the topic of several research analyst reports. DA Davidson upgraded Procore Technologies to a "hold" rating in a report on Friday, November 7th. BTIG Research reissued a "buy" rating and set a $88.00 price objective on shares of Procore Technologies in a report on Wednesday, December 17th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, November 6th. William Blair reiterated an "outperform" rating on shares of Procore Technologies in a research report on Friday, October 17th. Finally, UBS Group lowered their price target on shares of Procore Technologies from $87.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, February 3rd.

Get Our Latest Stock Analysis on Procore Technologies

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $51.27 on Friday. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of -61.03 and a beta of 0.89. The firm's 50-day moving average price is $69.75 and its two-hundred day moving average price is $70.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies has a 1-year low of $49.40 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.32 by $0.10. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The business had revenue of $338.85 million for the quarter, compared to the consensus estimate of $328.13 million. During the same period in the previous year, the business earned $0.24 EPS. Procore Technologies's revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 814 shares of the company's stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $72.99, for a total transaction of $59,413.86. Following the transaction, the chief financial officer directly owned 178,237 shares in the company, valued at approximately $13,009,518.63. This represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $64.31, for a total transaction of $494,672.52. Following the sale, the director owned 1,035,212 shares of the company's stock, valued at approximately $66,574,483.72. This represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 690,703 shares of company stock valued at $50,266,998 over the last quarter. 21.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Procore Technologies

A number of institutional investors have recently bought and sold shares of the business. Evoke Wealth LLC acquired a new position in shares of Procore Technologies in the 4th quarter valued at $912,000. FourThought Financial Partners LLC bought a new stake in Procore Technologies in the fourth quarter valued at about $223,000. Global Retirement Partners LLC lifted its stake in Procore Technologies by 116.2% in the fourth quarter. Global Retirement Partners LLC now owns 843 shares of the company's stock valued at $61,000 after buying an additional 453 shares during the period. Marble Harbor Investment Counsel LLC boosted its holdings in Procore Technologies by 4.4% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 108,689 shares of the company's stock worth $7,906,000 after buying an additional 4,608 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Procore Technologies by 105.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company's stock worth $3,332,000 after buying an additional 23,555 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

About Procore Technologies

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.

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