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

Key Points

• Procore Technologies, Inc. has an average analyst rating of "Moderate Buy", with fourteen analysts recommending a buy, six a hold, and one a sell.
• The stock has a 1-year price target consensus of $83.10, with recent price target increases from various firms, including Barclays and Robert W. Baird.
• Insider trading activity shows CFO Howard Fu and Director Connor Kevin J. O recently sold shares, collectively representing a slight decrease in their ownership of the company.

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-one analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $83.1053.

A number of analysts recently commented on PCOR shares. Robert W. Baird increased their price target on Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Procore Technologies in a research report on Saturday, September 27th. Barclays boosted their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. JMP Securities restated a "market perform" rating and set a $95.00 price objective on shares of Procore Technologies in a report on Friday, August 1st. Finally, Arete assumed coverage on shares of Procore Technologies in a research report on Monday, June 16th. They issued a "buy" rating and a $91.00 price objective on the stock.

Insider Buying and Selling

In related news, CFO Howard Fu sold 796 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $71.02, for a total value of $56,531.92. Following the transaction, the chief financial officer owned 188,661 shares in the company, valued at approximately $13,398,704.22. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Connor Kevin J. O sold 7,692 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $72.57, for a total value of $558,208.44. Following the completion of the sale, the director directly owned 1,123,329 shares of the company's stock, valued at $81,519,985.53. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,649 shares of company stock valued at $3,164,856. 21.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently added to or reduced their stakes in PCOR. Northwestern Mutual Wealth Management Co. boosted its position in Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company's stock worth $35,000 after purchasing an additional 385 shares during the period. SVB Wealth LLC purchased a new stake in shares of Procore Technologies during the 1st quarter valued at approximately $49,000. Hilltop National Bank bought a new position in Procore Technologies in the 2nd quarter worth approximately $62,000. Elevation Point Wealth Partners LLC bought a new position in Procore Technologies in the 2nd quarter worth approximately $68,000. Finally, Signaturefd LLC grew its stake in Procore Technologies by 53.4% in the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company's stock valued at $79,000 after buying an additional 419 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Up 1.3%

Procore Technologies stock opened at $72.66 on Monday. Procore Technologies has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. The firm's 50-day simple moving average is $68.94 and its 200 day simple moving average is $67.65. The stock has a market cap of $10.91 billion, a PE ratio of -75.68 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.35 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 firm earned $0.39 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Procore Technologies will post -0.15 EPS for the current fiscal year.

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.

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