Procore Technologies, Inc. (NYSE:PCOR) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) have earned an average rating of "Moderate Buy" from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given 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 $80.24.

A number of equities analysts recently commented on the company. Piper Sandler decreased their price target on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. DA Davidson upgraded Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group lowered their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, March 31st. KeyCorp dropped their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Macquarie decreased their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 7,700 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the sale, the director now owns 1,208,284 shares in the company, valued at $68,473,454.28. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Fu sold 1,190 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.00, for a total transaction of $79,730.00. Following the completion of the transaction, the chief financial officer now directly owns 146,160 shares of the company's stock, valued at $9,792,720. This represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,981 shares of company stock valued at $2,941,093 over the last quarter. Corporate insiders own 29.00% of the company's stock.

Institutional Trading of Procore Technologies

Several large investors have recently added to or reduced their stakes in PCOR. US Bancorp DE lifted its stake in Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after acquiring an additional 3,390 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Procore Technologies during the fourth quarter worth approximately $20,729,000. Barclays PLC grew its position in Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the 4th quarter valued at approximately $56,000. Finally, Conestoga Capital Advisors LLC acquired a new position in Procore Technologies in the 4th quarter valued at approximately $15,544,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Down 0.0%

Shares of Procore Technologies stock traded down $0.01 on Tuesday, hitting $67.33. 874,690 shares of the company's stock traded hands, compared to its average volume of 1,376,682. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $88.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.04 billion, a P/E ratio of -93.51 and a beta of 0.90. The firm's 50-day moving average is $64.43 and its 200 day moving average is $72.52.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Equities analysts anticipate 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.