Procore Technologies, Inc. (NYSE:PCOR) Given Consensus Recommendation of "Moderate Buy" by Analysts

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $90.24.

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Jefferies Financial Group upgraded Procore Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Stifel Nicolaus raised their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Piper Sandler lifted their target price on Procore Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group increased their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th.

Procore Technologies Stock Performance

Procore Technologies stock traded up $0.90 during trading on Thursday, hitting $70.37. The stock had a trading volume of 1,122,248 shares, compared to its average volume of 1,677,243. 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 stock's 50 day moving average is $76.38 and its two-hundred day moving average is $71.53. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $88.92. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of -97.73 and a beta of 0.85.

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Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. As a group, analysts predict that Procore Technologies will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the sale, the executive now directly owns 161,368 shares in the company, valued at $13,380,634.56. This represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the transaction, the chief financial officer now owns 156,188 shares in the company, valued at approximately $13,588,356. This represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,104 shares of company stock valued at $5,541,738. Corporate insiders own 29.00% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. Capital World Investors increased its stake in shares of Procore Technologies by 453.6% in the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock worth $233,704,000 after buying an additional 2,555,612 shares during the period. Wellington Management Group LLP bought a new stake in Procore Technologies during the 4th quarter valued at $131,840,000. Wasatch Advisors LP raised its holdings in Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company's stock valued at $97,599,000 after buying an additional 1,575,534 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock valued at $214,377,000 after buying an additional 1,425,967 shares during the period. 81.10% of the stock is currently owned by hedge funds and other 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.