Procore Technologies, Inc. (NASDAQ:PCOR) Receives Consensus … – MarketBeat
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Shares of Procore Technologies, Inc. (NASDAQ:PCOR – Get Rating) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $71.46.
Several analysts have commented on PCOR shares. KeyCorp dropped their target price on shares of Procore Technologies from $88.00 to $71.00 in a research report on Thursday, October 20th. Moffett Nathanson initiated coverage on shares of Procore Technologies in a research report on Thursday, September 22nd. They set a “buy” rating and a $73.00 target price for the company. Jefferies Financial Group decreased their price target on shares of Procore Technologies from $75.00 to $70.00 and set a “buy” rating for the company in a report on Monday, October 31st. Scotiabank initiated coverage on shares of Procore Technologies in a report on Monday, October 31st. They issued a “sector perform” rating and a $55.00 price target for the company. Finally, Barclays decreased their price target on shares of Procore Technologies from $66.00 to $61.00 in a report on Tuesday, October 11th.
Insider Buying and Selling
In other news, insider Benjamin C. Singer sold 6,172 shares of the stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $45.01, for a total transaction of $277,801.72. Following the completion of the transaction, the insider now directly owns 140,938 shares in the company, valued at approximately $6,343,619.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP William Fred Fleming, Jr. sold 3,056 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $48.20, for a total value of $147,299.20. Following the sale, the senior vice president now directly owns 67,080 shares of the company’s stock, valued at approximately $3,233,256. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 6,172 shares of the company’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $45.01, for a total transaction of $277,801.72. Following the completion of the sale, the insider now directly owns 140,938 shares in the company, valued at $6,343,619.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,710 shares of company stock valued at $7,944,306. Company insiders own 40.00% of the company’s stock.
Institutional Investors Weigh In On Procore Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the company. ICONIQ Capital LLC raised its holdings in Procore Technologies by 2.7% in the 1st quarter. ICONIQ Capital LLC now owns 44,808,883 shares of the company’s stock valued at $2,597,174,000 after acquiring an additional 1,186,014 shares during the period. Vanguard Group Inc. increased its holdings in shares of Procore Technologies by 20.4% during the third quarter. Vanguard Group Inc. now owns 6,141,607 shares of the company’s stock worth $303,886,000 after purchasing an additional 1,042,498 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Procore Technologies by 0.5% during the third quarter. Price T Rowe Associates Inc. MD now owns 5,899,536 shares of the company’s stock worth $291,910,000 after purchasing an additional 27,715 shares during the period. 12 West Capital Management LP increased its holdings in shares of Procore Technologies by 51.8% during the first quarter. 12 West Capital Management LP now owns 3,208,211 shares of the company’s stock worth $185,948,000 after purchasing an additional 1,095,000 shares during the period. Finally, Echo Street Capital Management LLC increased its holdings in shares of Procore Technologies by 29.2% during the second quarter. Echo Street Capital Management LLC now owns 2,724,148 shares of the company’s stock worth $123,649,000 after purchasing an additional 615,038 shares during the period. 81.52% of the stock is owned by institutional investors.
Procore Technologies Stock Performance
NASDAQ:PCOR opened at $51.63 on Friday. Procore Technologies has a 1 year low of $40.00 and a 1 year high of $83.70. The firm has a 50 day moving average of $51.39 and a 200-day moving average of $51.72. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $7.13 billion, a P/E ratio of -26.21 and a beta of 0.56.
Procore Technologies (NASDAQ:PCOR – Get Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.02). Procore Technologies had a negative net margin of 40.15% and a negative return on equity of 19.76%. The firm had revenue of $186.43 million during the quarter, compared to the consensus estimate of $175.15 million. As a group, sell-side analysts anticipate that Procore Technologies will post -1.68 EPS for the current fiscal year.
Procore Technologies Company Profile
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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 owners, 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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