Procore Technologies, Inc. (NASDAQ:PCOR – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $78.36.
A number of analysts recently commented on PCOR shares. Jefferies Financial Group cut their price target on shares of Procore Technologies from $90.00 to $75.00 in a report on Monday, May 23rd. JPMorgan Chase & Co. cut their target price on shares of Procore Technologies from $113.00 to $95.00 in a research note on Thursday, June 16th. JMP Securities began coverage on shares of Procore Technologies in a research note on Tuesday. They issued an “outperform” rating and a $70.00 price target for the company. KeyCorp lifted their price objective on Procore Technologies from $87.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. Finally, Mizuho upped their target price on Procore Technologies from $57.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 4th.
Insider Buying and Selling
In related news, Director William J.G. Griffith bought 171,489 shares of the company’s stock in a transaction on Tuesday, June 14th. The shares were acquired at an average cost of $42.81 per share, with a total value of $7,341,444.09. Following the completion of the acquisition, the director now owns 1,069,534 shares of the company’s stock, valued at approximately $45,786,750.54. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP William Fred Fleming, Jr. sold 2,486 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $56.04, for a total transaction of $139,315.44. Following the sale, the senior vice president now owns 70,136 shares in the company, valued at $3,930,421.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William J.G. Griffith acquired 171,489 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was purchased at an average price of $42.81 per share, with a total value of $7,341,444.09. Following the completion of the acquisition, the director now owns 1,069,534 shares in the company, valued at $45,786,750.54. The disclosure for this purchase can be found here. Insiders have sold 93,555 shares of company stock worth $5,517,939 in the last 90 days. Insiders own 40.00% of the company’s stock.
Institutional Trading of Procore Technologies
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A number of institutional investors and hedge funds have recently modified their holdings of PCOR. PNC Financial Services Group Inc. bought a new position in shares of Procore Technologies during the first quarter valued at $31,000. First Horizon Advisors Inc. bought a new position in Procore Technologies during the 1st quarter valued at about $37,000. Advisors Asset Management Inc. bought a new stake in shares of Procore Technologies in the first quarter worth approximately $42,000. Captrust Financial Advisors grew its stake in shares of Procore Technologies by 55.8% in the second quarter. Captrust Financial Advisors now owns 916 shares of the company’s stock worth $42,000 after acquiring an additional 328 shares during the period. Finally, Ellevest Inc. raised its holdings in shares of Procore Technologies by 13,812.5% during the second quarter. Ellevest Inc. now owns 1,113 shares of the company’s stock valued at $51,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.
Procore Technologies Price Performance
Shares of PCOR stock opened at $53.78 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.71 and a current ratio of 1.71. Procore Technologies has a fifty-two week low of $40.00 and a fifty-two week high of $105.29. The firm has a market cap of $7.29 billion, a P/E ratio of -26.49 and a beta of 0.50. The business’s 50 day moving average price is $53.02 and its 200-day moving average price is $53.39.
About Procore Technologies
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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