DA Davidson Upgrades Procore Technologies (NYSE:PCOR) to "Hold"

DA Davidson upgraded shares of Procore Technologies (NYSE:PCOR - Free Report) to a hold rating in a research note released on Tuesday,Zacks.com reports. DA Davidson also issued estimates for Procore Technologies' Q2 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.06 EPS.

PCOR has been the topic of several other reports. Scotiabank decreased their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. KeyCorp decreased their price objective on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Piper Sandler decreased their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. JMP Securities upped their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus decreased their price objective on Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Procore Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.24.

Procore Technologies Price Performance

PCOR stock traded down $0.35 during midday trading on Tuesday, hitting $71.08. The company's stock had a trading volume of 767,569 shares, compared to its average volume of 1,723,071. Procore Technologies has a 12 month low of $49.46 and a 12 month 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 firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of -98.72 and a beta of 0.90. The company has a 50 day moving average of $64.88 and a two-hundred day moving average of $72.68.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same period in the prior year, the company posted $0.30 EPS. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts expect that Procore Technologies will post -0.15 EPS for the current year.

Insider Transactions at Procore Technologies

In related news, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the transaction, the chief financial officer now directly owns 156,188 shares in the company, valued at approximately $13,588,356. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 6,937 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the transaction, the insider now owns 72,110 shares of the company's stock, valued at approximately $6,028,396. This represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,834 shares of company stock worth $5,181,472 over the last three months. 29.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PCOR. Principal Financial Group Inc. raised its position in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after acquiring an additional 2,670,872 shares in the last quarter. Capital World Investors grew its holdings in Procore Technologies by 453.6% in the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after purchasing an additional 2,555,612 shares during the period. Wellington Management Group LLP acquired a new stake in Procore Technologies in the fourth quarter valued at approximately $131,840,000. JPMorgan Chase & Co. grew its holdings in Procore Technologies by 84.5% in the first quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock valued at $215,195,000 after purchasing an additional 1,492,869 shares during the period. Finally, Champlain Investment Partners LLC acquired a new stake in Procore Technologies in the fourth quarter valued at approximately $105,747,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.