Analysts give Procore Technologies, Inc. (NASDAQ:PCOR) a … – Best Stocks
According to the data from Bloomberg Ratings, the fourteen different brokerages that provide coverage for Procore Technologies, Inc. (NASDAQ: PCOR) have given the stock an average rating of “Moderate Buy.” In addition, there have been eight recommendations made by financial analysts to purchase the stock, while there have been three recommendations to hold on to the stock. The vast majority of stockbrokers who have updated their coverage of the company’s shares over the past year have projected that the stock’s price will reach $71.46 per share within the next year.
Several analysts have weighed in on PCOR’s share price performance and provided their opinions. KeyCorp announced in a research note released on Thursday, October 20, that they would be decreasing their target price on Procore Technologies shares from $80.00 to $71.00. On Thursday, September 22, a research note written by Moffett Nathanson was made public, in which the firm stated that it would begin following and covering the stock of Procore Technologies. They suggested investing in the company by purchasing shares and estimated that the appropriate price range would be $73.00. In a report distributed on October 31, Jefferies Financial Group lowered its “buy” rating and price target for Procore Technologies from $75 to $70. The report was titled “Procore Technologies Rating and Price Target Reduction.” To our knowledge, Scotiabank was the first financial institution to cover shares in Procore Technologies when it published its report on October 31. They assigned the business the rating of “sector perform” and decided the price target should be $55.00. Finally, in a research report published online, Barclays lowered their price target on Procore Technologies shares on Tuesday, October 11. The new price target is $61.00. This was the third and final reduction in the amount.
On November 29, Benjamin C. Singer, an insider at the company, transacted the sale of 6,172 shares of company stock. This is included in the other news. A total transaction involving $277,801.72 worth of the company’s stock, with the average price being $45.01 per share. After the completion of the sale, the corporate insider now directly owns 140,938 shares of the company. The total value of these shares is approximately $6,343,619.38. Simply clicking on this link will take you to a document submitted to the SEC and provide you with additional details regarding the transaction. On November 23, Senior Vice President William Fred Fleming, Jr. sold 3,056 shares of the company’s stock. This is just one of the many recent events that have transpired. This transaction was carried out on November 23 as a part of another transaction that occurred that day. The cost of purchasing all of the shares came to a total of $147.299.20, which works out to a price of $48.20 per share on an average basis. The senior vice president now has direct ownership of 67,080 shares of the company’s stock, which together have an approximate value of $3,233,256 as a result of the completion of the sale. One can find a copy of the case file in which the transaction was disclosed on the Securities and Exchange Commission (SEC) website. The file contains information about the transaction. On Tuesday, November 29, Benjamin C. Singer, an insider at the company, sold an additional 6,172 shares of the company’s stock. A total transaction involving $277,801.72 worth of the company’s stock, with the average price being $45.01 per share. After the completion of the sale, the company insider now directly owns 140,938 shares of the company. Based on the current stock price, these shares are worth $6,343,619.38. Disclosures that are related to the sale might be found in this section of the website. Over the past three months, employees with insider trading privileges on their accounts sold 157,710 shares of company stock with a combined value of $7,944,306. The employees of the company and the management of the company control a combined total of forty percent of the company’s shares.
During the previous few months, several hedge funds and other types of institutional investors modified the processes by which they invested in the company. ICONIQ Capital LLC increased the amount of Procore Technologies stock owned by 2.7% during the year’s first quarter. ICONIQ Capital LLC is the current owner of 44,808,883 shares with a combined value of $2,597,174,000. Compared to the number of shares held at the end of the reporting period before this one, this represents an increase of 1,186,014 shares. The investment firm Vanguard Group Inc. increased the proportion of its holdings in Procore Technologies, which is owned by 20.4% during the third quarter. Vanguard Group Inc. now holds 6,141,607 shares of the company’s stock, with a market value of $303,886,000. This is a result of the purchase of 1,042,498 additional shares during the reporting period. Price T. Rowe Associates, Inc., the company of Price T. Rowe Associates, Inc. MD’s holdings in Procore Technologies increased by 0.5 percent over the third fiscal quarter. Price T. Rowe Associates, Inc., the company of Price T. Rowe Associates, Inc. MD, now has a total of 5,899,536 shares of the company’s stock, which is now valued at $291,910,000 after the purchase of an additional 27,715 shares during the period in question. The value of 12 West Capital Management LP’s holdings in Procore Technologies increased by 51.8% during the first three months of the year due to the company’s investment. 12 West Capital Management LP now holds a total of 3,208,211 shares of the company’s stock, which has a current market value of $185,948,000. This is the result of the company’s purchase of an additional 1,095,000 shares during the relevant period. In the second quarter, Echo Street Capital Management LLC increased the percentage of Procore Technologies in which it has invested by 29.2 percent. This was the last and most important item to discuss. Echo Street Capital Management LLC now owns 2,724,148 shares of the company’s stock, valued at $123,649,000, after purchasing an additional 615,038 shares during the relevant period. These shares were acquired during the period in question. Institutions own the equity of the company to the tune of 81.52%.
This past Friday, NASDAQ: PCOR began trading for $51.63 each. During the preceding twelve months, the price of Procore Technologies has fluctuated between the ranges of $40 and $83.70, with a low of $40 and a high of $83.70. The moving averages of the company’s stock price over the past 50 days are $51.39; over the last 200 days, they stand at $51.72, respectively. There is no debt-to-equity ratio, a current ratio of 1, a quick ratio of 1, and a quick ratio of 1. All of these ratios add up to one. The stock’s price-to-earnings ratio is -26.21, and its beta value is 0.56. The value of the company’s shares on the market is approximately $7.13 billion.
On November 2, the most recent quarterly earnings report for Procore Technologies (NASDAQ: PCOR) was made available to the public. The company reported that its earnings per share (EPS) for the quarter came in at $0.43, which was $0.02 lower than the consensus analyst projection of $0.41 and $0.01 lower than the EPS reported in the prior quarter. At Procore Technologies, the return on equity and the net margin was negative. The return on equity and the net margin was in the red, with negative values of 19.76% and 40.15%, respectively. The company’s revenue for the quarter came in at $186.43 million, which is significantly higher than the consensus projection of $175.15 million. Sell-side analysts predict that Procore Technologies will generate a profit of -1.68 dollars per share during the current fiscal year, even though the company is expected to lose money overall.
Procore Technologies, Inc. provides its customers with a cloud-based construction management platform and other software products connected to the construction industry. These services are offered both domestically and internationally. The company offers a platform that enables owners, general and specialty contractors, architects, and engineers to work together on construction projects in the construction industry. These services are offered both domestically and internationally. The company offers a platform that enables owners, general and specialty contractors, architects, and engineers to work together on construction projects. This makes it possible for owners to save time and money. In addition, it offers preconstruction, which enables teams to collaborate in real-time, store information, design, discover BIM model conflicts, and comply with rules.
Additionally, it stores information. This feature can be accessed at the construction site and back office. In addition, it provides project management, making it possible for teams to collaborate in real-time, save information, design, recognize conflicts in BIM models, and comply with rules. This functionality is offered to teams on the Jobsite and in the back office where they are based.
Yasmine’s focus is on uncovering early-stage ideas with the potential to have a lasting impact. Her educational background includes a bachelor’s degree in finance, an MBA, and two tests completed – the CFA and CMT.
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