Procore Technologies' (PCOR) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Procore Technologies (PCOR) has been assigned a "sell (D-)" rating by Weiss Ratings, indicating ongoing concerns about the company's performance.
• Despite this negative rating, several brokerages have raised their price targets; for instance, Stifel Nicolaus increased their target from $75.00 to $80.00 and maintained a "buy" rating.
• Procore recently reported a quarterly revenue of $323.92 million, surpassing analyst estimates, and posted an earnings per share (EPS) of $0.35, beating the forecasted $0.24.

Procore Technologies (NYSE:PCOR - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on PCOR. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Piper Sandler lifted their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citizens Jmp downgraded shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 1st. Arete started 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. Finally, KeyCorp lifted their price objective on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of "Moderate Buy" and an average target price of $83.11.

Procore Technologies Trading Up 4.3%

NYSE PCOR opened at $74.45 on Wednesday. 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 company has a market capitalization of $11.18 billion, a price-to-earnings ratio of -77.55 and a beta of 0.90. The company's 50-day simple moving average is $68.77 and its two-hundred day simple moving average is $67.75. Procore Technologies has a one year low of $53.71 and a one year high of $88.92.

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, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The company's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. 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 EPS for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 1,036 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $75.00, for a total transaction of $77,700.00. Following the sale, the insider owned 85,330 shares of the company's stock, valued at approximately $6,399,750. The trade was a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 796 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $71.02, for a total transaction of $56,531.92. Following the completion of the sale, the chief financial officer directly owned 188,661 shares in the company, valued at $13,398,704.22. This trade represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,422 shares of company stock valued at $1,685,658. Insiders own 21.50% of the company's stock.

Institutional Trading of Procore Technologies

Several large investors have recently made changes to their positions in PCOR. Assenagon Asset Management S.A. boosted its holdings in shares of Procore Technologies by 76.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,037,974 shares of the company's stock valued at $294,449,000 after acquiring an additional 1,750,998 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Procore Technologies by 58.4% in the 2nd quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company's stock valued at $318,592,000 after acquiring an additional 1,717,492 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Procore Technologies by 84.5% in the 1st 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. Norges Bank acquired a new position in shares of Procore Technologies in the 2nd quarter valued at $82,361,000. Finally, Champlain Investment Partners LLC lifted its stake in shares of Procore Technologies by 73.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,259,420 shares of the company's stock valued at $154,590,000 after purchasing an additional 955,450 shares during the period. 81.10% of the stock is 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.

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