Procore Technologies, Inc. (NASDAQ:PCOR) Receives Consensus Rating of "Moderate Buy" from Analysts – MarketBeat
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Procore Technologies, Inc. (NASDAQ:PCOR – Get Rating) has received an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $71.46.
Several research firms have issued reports on PCOR. Scotiabank started coverage on Procore Technologies in a report on Monday, October 31st. They set a “sector perform” rating and a $55.00 price objective on the stock. KeyCorp cut their target price on Procore Technologies from $88.00 to $71.00 in a research report on Thursday, October 20th. Oppenheimer upped their target price on Procore Technologies from $60.00 to $70.00 in a research report on Thursday, August 4th. Barclays decreased their price target on Procore Technologies from $66.00 to $61.00 in a research note on Tuesday, October 11th. Finally, JPMorgan Chase & Co. decreased their target price on Procore Technologies from $80.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd.
Procore Technologies Stock Performance
NASDAQ PCOR opened at $50.31 on Monday. The firm has a market capitalization of $6.94 billion, a P/E ratio of -25.54 and a beta of 0.67. Procore Technologies has a 1-year low of $40.00 and a 1-year high of $90.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.60 and a quick ratio of 1.60. The business’s 50-day simple moving average is $52.93 and its 200-day simple moving average is $51.23.
Insider Buying and Selling at Procore Technologies
In other news, CEO Craig F. Jr. Courtemanche sold 24,200 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $49.50, for a total transaction of $1,197,900.00. Following the completion of the sale, the chief executive officer now owns 3,683,087 shares in the company, valued at approximately $182,312,806.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Procore Technologies news, CRO Dennis Lyandres sold 10,228 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $56.04, for a total value of $573,177.12. Following the transaction, the executive now owns 649,310 shares in the company, valued at $36,387,332.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 24,200 shares of Procore Technologies stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $49.50, for a total transaction of $1,197,900.00. Following the sale, the chief executive officer now directly owns 3,683,087 shares in the company, valued at approximately $182,312,806.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,689 shares of company stock worth $5,610,356. Insiders own 40.00% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in Procore Technologies in the first quarter worth about $31,000. First Horizon Advisors Inc. purchased a new position in Procore Technologies during the 1st quarter worth $37,000. US Bancorp DE increased its holdings in shares of Procore Technologies by 330.3% in the 3rd quarter. US Bancorp DE now owns 753 shares of the company’s stock valued at $37,000 after acquiring an additional 578 shares during the period. Captrust Financial Advisors boosted its position in shares of Procore Technologies by 55.8% in the 2nd quarter. Captrust Financial Advisors now owns 916 shares of the company’s stock worth $42,000 after purchasing an additional 328 shares in the last quarter. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Procore Technologies in the 1st quarter worth $42,000. Institutional investors own 81.52% 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 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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