Procore Technologies, Inc. (NYSE:PCOR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $86.00.

A number of brokerages recently issued reports on PCOR. JPMorgan Chase & Co. boosted their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Mizuho upped their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. UBS Group initiated coverage on Procore Technologies in a report on Monday, December 2nd. They set a “buy” rating and a $105.00 target price on the stock. Scotiabank increased their price target on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd.

Procore Technologies Stock Up 2.9 %

Shares of Procore Technologies stock opened at $81.74 on Wednesday. The business has a fifty day simple moving average of $78.25 and a 200 day simple moving average of $67.83. The stock has a market cap of $12.15 billion, a PE ratio of -163.47 and a beta of 0.83. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $86.67.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Research analysts predict that Procore Technologies will post -0.22 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 15,000 shares of Procore Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the completion of the transaction, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total value of $117,000.00. Following the completion of the sale, the insider now owns 83,039 shares in the company, valued at $6,477,042. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,475 shares of company stock worth $10,824,010 over the last ninety days. 29.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanderbilt University boosted its position in Procore Technologies by 5.3% during the fourth quarter. Vanderbilt University now owns 49,875 shares of the company’s stock worth $3,737,000 after purchasing an additional 2,504 shares during the period. Choreo LLC acquired a new stake in shares of Procore Technologies during the 4th quarter worth about $247,000. Conestoga Capital Advisors LLC bought a new stake in shares of Procore Technologies during the 4th quarter worth about $15,544,000. Jennison Associates LLC grew its stake in Procore Technologies by 33.2% in the 4th quarter. Jennison Associates LLC now owns 345,881 shares of the company’s stock valued at $25,917,000 after buying an additional 86,277 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Procore Technologies by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after acquiring an additional 129 shares during the period. 81.10% of the stock is currently owned by 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.