Procore Technologies (NYSE:PCOR) Stock Rating Upgraded by Wall Street Zen

Procore Technologies (NYSE:PCOR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other equities analysts have also issued reports on PCOR. The Goldman Sachs Group cut their target price on Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. KeyCorp decreased their price target on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Barclays lowered their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. BMO Capital Markets cut their price objective on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Finally, Zacks Research upgraded shares of Procore Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Seventeen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.05.

Procore Technologies Stock Up 0.2%

Procore Technologies stock opened at $54.35 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm has a market cap of $8.16 billion, a P/E ratio of -81.13 and a beta of 0.90. The business has a fifty day moving average of $56.43 and a two-hundred day moving average of $67.50. Procore Technologies has a twelve month low of $46.08 and a twelve month high of $82.32.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $349.11 million for the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative return on equity of 3.96% and a negative net margin of 7.62%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. On average, analysts forecast that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Craig F. Jr. Courtemanche sold 56,121 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $57.23, for a total transaction of $3,211,804.83. Following the sale, the chairman owned 927,580 shares in the company, valued at approximately $53,085,403.40. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 4,225 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the transaction, the insider owned 64,660 shares in the company, valued at approximately $3,233,000. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 94,641 shares of company stock valued at $5,369,546. 21.50% of the stock is owned by corporate insiders.

Institutional Trading of Procore Technologies

Large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC raised its position in Procore Technologies by 465.2% during the 3rd quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after buying an additional 321 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Procore Technologies in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp increased its stake in shares of Procore Technologies by 70.8% in the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies in the fourth quarter worth $41,000. Finally, Allworth Financial LP raised its holdings in shares of Procore Technologies by 48.2% during the fourth quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors 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. 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.