Brokerages Set Procore Technologies, Inc. (NYSE:PCOR) Target Price at $72.56

Shares of Procore Technologies, Inc. (NYSE:PCOR) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $71.3333.

Several research analysts recently weighed in on the company. Piper Sandler cut their target price on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. UBS Group cut their target price on Procore Technologies from $74.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. TD Cowen cut their target price on Procore Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. BTIG Research reaffirmed a “buy” rating and set a $66.00 price target on shares of Procore Technologies in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Procore Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 5,769 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $42.00, for a total transaction of $242,298.00. Following the completion of the sale, the director directly owned 973,670 shares in the company, valued at $40,894,140. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $45.14, for a total transaction of $2,533,347.08. Following the sale, the chairman owned 919,704 shares of the company’s stock, valued at approximately $41,515,438.56. This represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 189,621 shares of company stock worth $9,054,472 over the last ninety days. 16.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently modified their holdings of PCOR. SJS Investment Consulting Inc. lifted its position in Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock worth $25,000 after acquiring an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp lifted its position in Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 199 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 4th quarter worth approximately $41,000. Finally, Allworth Financial LP lifted its position 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 in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Stock Down 0.0%

PCOR opened at $39.99 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -78.41 and a beta of 0.73. The business has a 50-day moving average of $49.40 and a two-hundred day moving average of $58.31. Procore Technologies has a 12 month low of $38.71 and a 12 month high of $82.32.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $359.28 million during the quarter, compared to analysts’ expectations of $352.82 million. Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. On average, research analysts expect that Procore Technologies will post 0.06 earnings per share for the current year.

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.