Procore Technologies (NYSE:PCOR) Earns “Neutral” Rating from DA Davidson

by · The Markets Daily

DA Davidson reiterated their neutral rating on shares of Procore Technologies (NYSE:PCOR – Free Report) in a report published on Wednesday morning, Benzinga reports. They currently have a $60.00 price objective on the stock.

A number of other equities analysts have also weighed in on the company. Mizuho reiterated a neutral rating and set a $70.00 price objective (down previously from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. Scotiabank reduced their price target on Procore Technologies from $90.00 to $70.00 and set a sector outperform rating for the company in a research report on Friday, August 2nd. BMO Capital Markets lowered their price objective on Procore Technologies from $85.00 to $71.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. KeyCorp cut their target price on shares of Procore Technologies from $79.00 to $68.00 and set an overweight rating for the company in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of Procore Technologies from $85.00 to $73.00 and set a buy rating on the stock in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $69.50.

Get Our Latest Stock Report on Procore Technologies

Procore Technologies Trading Up 2.1 %

Shares of NYSE:PCOR opened at $60.28 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.03. Procore Technologies has a 52-week low of $48.11 and a 52-week high of $83.35. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of -62.79 and a beta of 0.73. The business has a 50-day moving average price of $58.88 and a 200-day moving average price of $66.31.

Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. Procore Technologies had a negative net margin of 8.54% and a negative return on equity of 4.13%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Equities analysts predict that Procore Technologies will post -0.28 EPS for the current year.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 3,846 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the transaction, the director now owns 1,444,313 shares of the company’s stock, valued at approximately $77,487,392.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the completion of the transaction, the director now owns 1,444,313 shares in the company, valued at $77,487,392.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Howard Fu sold 1,142 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $68.68, for a total value of $78,432.56. Following the completion of the transaction, the chief financial officer now directly owns 181,419 shares in the company, valued at $12,459,856.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,890 shares of company stock worth $5,947,691 in the last ninety days. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tanager Wealth Management LLP grew its stake in Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Procore Technologies by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after acquiring an additional 180 shares during the period. Signaturefd LLC increased its holdings in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the period. Advisors Asset Management Inc. raised its position in Procore Technologies by 26.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after purchasing an additional 260 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after purchasing an additional 297 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Procore Technologies

(Get Free Report)

Procore Technologies, Inc engages in the provision of 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.

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