Procore Technologies, Inc. (NYSE:PCOR) Stock Has Consensus Price Target of $80.35

Shares of Procore Technologies, Inc. (NYSE:PCOR) have received an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $80.35.

A number of research analysts have issued reports on PCOR shares. Guggenheim boosted their price target on Procore Technologies from $68.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Cantor Fitzgerald raised their price target on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. TD Cowen lifted their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. DA Davidson set a $56.00 price objective on shares of Procore Technologies in a research note on Monday, September 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, July 21st.

Procore Technologies Trading Down 0.3%

Shares of NYSE PCOR opened at $77.28 on Tuesday. Procore Technologies has a 12-month low of $38.03 and a 12-month high of $79.80. The company has a market cap of $11.56 billion, a price-to-earnings ratio of -336.00 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 1.17 and a debt-to-equity ratio of 0.86. The stock’s 50 day simple moving average is $58.74 and its 200 day simple moving average is $53.74.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The firm had revenue of $402.31 million for the quarter, compared to analyst estimates of $384.38 million. Procore Technologies had a positive return on equity of 2.67% and a negative net margin of 2.31%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. Equities research analysts expect that Procore Technologies will post 0.42 EPS for the current year.

Insider Buying and Selling

In related news, Director Elisa Steele sold 3,337 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $69.10, for a total transaction of $230,586.70. Following the sale, the director owned 55,034 shares of the company’s stock, valued at $3,802,849.40. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin O’Connor sold 7,692 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $54.53, for a total value of $419,444.76. Following the transaction, the director directly owned 900,594 shares of the company’s stock, valued at approximately $49,109,390.82. The trade was a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 163,538 shares of company stock worth $9,522,185. Company insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Twin Tree Management LP acquired a new position in shares of Procore Technologies in the 2nd quarter worth approximately $40,000. Allworth Financial LP increased its holdings in shares of Procore Technologies by 128.3% in the third quarter. Allworth Financial LP now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 449 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Procore Technologies in the second quarter valued at $52,000. Versant Capital Management Inc lifted its position in shares of Procore Technologies by 50.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,581 shares of the company’s stock valued at $64,000 after acquiring an additional 529 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in shares of Procore Technologies during the 3rd quarter worth $69,000. 81.10% of the stock is owned by institutional investors and hedge funds.

About Procore Technologies

Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals. Procore’s products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.