Analysts Set Procore Technologies, Inc. (NYSE:PCOR) Target Price at $83.06

Key Points

• Procore Technologies, Inc. has received an average recommendation of "Moderate Buy" from twenty research firms, with a target price of $83.06.
• Insider trading activity includes Director Connor O's sale of 8,035 shares at an average price of $72.36, while a major shareholder sold 192,803 shares at approximately $64.76 each.
• The stock has experienced a 2.1% decrease recently, with shares trading at $68.55 and a market capitalization of $10.29 billion.

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) has received an average rating of "Moderate Buy" from the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $83.0556.

PCOR has been the subject of several recent analyst reports. KeyCorp upped their price objective on shares of Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JMP Securities restated a "market perform" rating and set a $95.00 price target on shares of Procore Technologies in a report on Friday, August 1st. Citizens Jmp lowered Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. Robert W. Baird boosted their target price on Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Arete began coverage on Procore Technologies in a research note on Monday, June 16th. They issued a "buy" rating and a $91.00 price target for the company.

Insider Transactions at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,205 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $63.67, for a total value of $267,732.35. Following the completion of the sale, the insider directly owned 86,366 shares in the company, valued at $5,498,923.22. This trade represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total value of $509,825.76. Following the sale, the director directly owned 1,146,405 shares in the company, valued at approximately $75,983,723.40. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,921 shares of company stock valued at $2,525,652. Company insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. Two Sigma Investments LP boosted its position in shares of Procore Technologies by 5.3% during the fourth quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock worth $313,000 after acquiring an additional 210 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Procore Technologies by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,934 shares of the company's stock worth $854,000 after purchasing an additional 221 shares in the last quarter. George Kaiser Family Foundation lifted its stake in Procore Technologies by 1.0% in the 2nd quarter. George Kaiser Family Foundation now owns 23,168 shares of the company's stock worth $1,585,000 after purchasing an additional 240 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Procore Technologies by 1.8% during the 1st quarter. Xponance Inc. now owns 14,864 shares of the company's stock valued at $981,000 after purchasing an additional 263 shares during the last quarter. Finally, TFB Advisors LLC grew its position in shares of Procore Technologies by 8.1% during the first quarter. TFB Advisors LLC now owns 3,543 shares of the company's stock valued at $234,000 after purchasing an additional 264 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Trading Up 1.0%

Procore Technologies stock traded up $0.72 during trading hours on Thursday, reaching $71.73. The company had a trading volume of 1,111,410 shares, compared to its average volume of 1,345,327. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. Procore Technologies has a 12-month low of $53.71 and a 12-month high of $88.92. The company has a 50-day moving average price of $69.13 and a 200 day moving average price of $67.48. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of -74.72 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The firm had revenue of $323.92 million for the quarter, compared to analysts' expectations of $311.91 million. During the same quarter last year, the business earned $0.39 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Procore Technologies will post -0.15 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.