Procore Technologies (NYSE:PCOR – Get Rating) had its target price increased by DA Davidson from $72.00 to $75.00 in a report published on Friday morning, The Fly reports.
A number of other equity research analysts also recently weighed in on PCOR. The Goldman Sachs Group raised Procore Technologies from a neutral rating to a buy rating and raised their price objective for the company from $63.00 to $75.00 in a research report on Thursday, May 4th. Stifel Nicolaus cut their price objective on shares of Procore Technologies from $79.00 to $67.00 in a research report on Thursday, May 4th. Mizuho reduced their price objective on shares of Procore Technologies from $80.00 to $75.00 and set a buy rating for the company in a research note on Monday, April 17th. JMP Securities restated a market outperform rating and issued a $75.00 target price on shares of Procore Technologies in a research note on Monday, April 17th. Finally, KeyCorp reduced their price target on Procore Technologies from $86.00 to $76.00 and set an overweight rating on the stock in a research report on Wednesday, April 19th. Two equity research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $72.21.
Procore Technologies Stock Down 1.7 %
Shares of Procore Technologies stock opened at $63.09 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of -31.23 and a beta of 0.55. The firm’s 50-day moving average is $59.03 and its two-hundred day moving average is $57.11. Procore Technologies has a 1 year low of $41.80 and a 1 year high of $68.68.
Procore Technologies (NYSE:PCOR – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.13. The firm had revenue of $213.53 million for the quarter, compared to the consensus estimate of $203.24 million. Procore Technologies has a negative net margin of 36.03% and a negative return on equity of 19.75%. As a group, research analysts expect that Procore Technologies will post -1.57 earnings per share for the current fiscal year.
Insider Transactions at Procore Technologies
In related news, CEO Craig F. Jr. Courtemanche sold 24,209 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $61.18, for a total value of $1,481,106.62. Following the sale, the chief executive officer now owns 3,560,285 shares in the company, valued at $217,818,236.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Craig F. Jr. Courtemanche sold 24,209 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $61.18, for a total transaction of $1,481,106.62. Following the completion of the transaction, the chief executive officer now directly owns 3,560,285 shares in the company, valued at $217,818,236.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin C. Singer sold 8,147 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $61.86, for a total value of $503,973.42. Following the sale, the insider now directly owns 166,394 shares in the company, valued at $10,293,132.84. The disclosure for this sale can be found here. Insiders sold a total of 162,386 shares of company stock worth $9,562,481 over the last three months. 39.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Procore Technologies
A number of hedge funds and other institutional investors have recently made changes to their positions in PCOR. Bank of New York Mellon Corp boosted its holdings in Procore Technologies by 311.8% during the first quarter. Bank of New York Mellon Corp now owns 487,908 shares of the company’s stock worth $28,280,000 after buying an additional 369,427 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Procore Technologies by 33.1% in the 1st quarter. HighTower Advisors LLC now owns 15,927 shares of the company’s stock valued at $924,000 after purchasing an additional 3,959 shares in the last quarter. Citigroup Inc. raised its holdings in Procore Technologies by 41.9% in the 1st quarter. Citigroup Inc. now owns 8,019 shares of the company’s stock worth $465,000 after purchasing an additional 2,367 shares during the period. PNC Financial Services Group Inc. purchased a new position in Procore Technologies during the first quarter worth approximately $31,000. Finally, the Bank of Montreal Can purchased a new stake in shares of Procore Technologies in the first quarter valued at approximately $2,460,000. Institutional investors and hedge funds own 82.32% of the company’s stock.
About Procore Technologies
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Procore Technologies, Inc provides a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables general and specialty contractors, architects and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.
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