DA Davidson Begins Coverage on Procore Technologies (NYSE:PCOR)

Key Points

• Procore Technologies received a "neutral" rating from DA Davidson, with a revised price target of $70.00, indicating a potential upside of 12.79% from its current price.
• Consistently, various analysts have adjusted their price targets for Procore, with ratings ranging from "buy" to "sector outperform," reflecting a general consensus of a "Moderate Buy."
• Procore Technologies reported $0.35 EPS for the quarter, surpassing expectations, and its revenue increased by 13.9% year-over-year, totaling $323.92 million.

Research analysts at DA Davidson began coverage on shares of Procore Technologies (NYSE:PCOR - Get Free Report) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a "neutral" rating and a $70.00 price target on the stock. DA Davidson's target price indicates a potential upside of 12.19% from the company's current price. DA Davidson also issued estimates for Procore Technologies' Q3 2025 earnings at ($0.02) EPS.

A number of other analysts have also recently weighed in on PCOR. JMP Securities reissued a "market perform" rating and issued a $95.00 target price on shares of Procore Technologies in a research note on Friday, August 1st. Scotiabank lowered their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Arete assumed coverage on Procore Technologies in a research report on Monday, June 16th. They set a "buy" rating and a $91.00 target price for the company. KeyCorp boosted their price target on Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Piper Sandler increased their price objective on Procore Technologies from $75.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

Procore Technologies Stock Performance

Procore Technologies stock traded down $1.94 during mid-day trading on Monday, reaching $62.39. The company had a trading volume of 1,675,723 shares, compared to its average volume of 1,460,564. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of -64.99 and a beta of 0.90. The company has a 50 day moving average of $69.37 and a 200-day moving average of $69.90. Procore Technologies has a 52 week low of $52.60 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $323.92 million during the quarter, compared to analyst estimates of $311.91 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In related news, CFO Howard Fu sold 814 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $74.35, for a total value of $60,520.90. Following the completion of the sale, the chief financial officer owned 197,457 shares in the company, valued at approximately $14,680,927.95. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William J.G. Griffith sold 309,168 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total value of $20,021,719.68. Following the completion of the sale, the director directly owned 1,893,458 shares of the company's stock, valued at approximately $122,620,340.08. This trade represents a 14.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 671,447 shares of company stock valued at $43,813,243 over the last three months. Insiders own 29.00% of the company's stock.

Institutional Trading of Procore Technologies

A number of large investors have recently bought and sold shares of 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 valued at $35,000 after purchasing an additional 385 shares during the last quarter. Huntington National Bank raised its stake in shares of Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Procore Technologies in the 1st quarter valued at approximately $49,000. Aster Capital Management DIFC Ltd grew its stake in shares of Procore Technologies by 181.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after buying an additional 544 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in Procore Technologies by 10,625.0% during the fourth quarter. Ancora Advisors LLC now owns 858 shares of the company's stock worth $64,000 after buying an additional 850 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

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.