Shares of Procore Technologies, Inc. (NASDAQ: PCOR – Get Rating) have been assigned a consensus recommendation of “Buy” from the thirteen research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $ 88.36.
A number of analysts recently weighed in on PCOR shares. Zacks Investment Research downgraded Procore Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Piper Sandler lowered their price objective on Procore Technologies from $ 115.00 to $ 100.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. Oppenheimer lowered their price objective on Procore Technologies from $ 85.00 to $ 70.00 in a research report on Thursday, May 5th. The Goldman Sachs Group lowered their price objective on Procore Technologies from $ 90.00 to $ 77.00 and set a “neutral” rating for the company in a research report on Thursday, April 14th. Finally, Canaccord Genuity Group lowered their price objective on Procore Technologies from $ 110.00 to $ 85.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd.
Shares of PCOR opened at $ 48.53 on Monday. The company has a market cap of $ 6.58 billion and a PE ratio of -13.75. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $ 52.15 and a 200-day moving average price of $ 64.50. Procore Technologies has a 12-month low of $ 40.00 and a 12-month high of $ 108.75.
Procore Technologies (NASDAQ: PCOR – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported ($ 0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($ 0.47) by $ 0.05. The company had revenue of $ 159.52 million during the quarter, compared to the consensus estimate of $ 150.25 million. Procore Technologies had a negative return on equity of 23.19% and a negative net margin of 54.32%. Procore Technologies’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($ 0.04) EPS. As a group, analysts predict that Procore Technologies will post -1.81 earnings per share for the current year.
In related news, CRO Dennis Lyandres sold 3,938 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $ 66.77, for a total value of $ 262,940.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 6,453 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $ 42.79, for a total value of $ 276,123.87. Following the completion of the sale, the insider now directly owns 166,699 shares in the company, valued at $ 7,133,050.21. The disclosure for this sale can be found here. Insiders have sold 61,036 shares of company stock worth $ 2,706,164 over the last three months. Insiders own 40.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PCOR. PNC Financial Services Group Inc. bought a new stake in Procore Technologies in the first quarter worth $ 31,000. Royal Bank of Canada bought a new position in shares of Procore Technologies during the second quarter valued at $ 36,000. First Horizon Advisors Inc. bought a new position in shares of Procore Technologies during the first quarter valued at $ 37,000. Advisors Asset Management Inc. bought a new position in shares of Procore Technologies during the first quarter valued at $ 42,000. Finally, Metropolitan Life Insurance Co NY bought a new position in shares of Procore Technologies during the third quarter valued at $ 44,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.
Procore Technologies Company Profile (Get Rating)
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 regulatory compliance for teams on the jobsite and in the back office.
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