Procore Technologies’ (PCOR) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Procore Technologies (NYSE:PCOR) in a report released on Tuesday morning, Marketbeat Ratings reports. Piper Sandler currently has a $82.00 price target on the stock.

A number of other analysts have also weighed in on PCOR. Arete started coverage on shares of Procore Technologies in a report on Monday, June 16th. They issued a “buy” rating and a $91.00 price target for the company. Stifel Nicolaus raised their price target on shares of Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 1st. Barclays raised their price target on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. Finally, BMO Capital Markets raised their price target on shares of Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.11.

Procore Technologies Stock Performance

NYSE PCOR opened at $70.62 on Tuesday. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of -73.56 and a beta of 0.90. The company has a 50 day moving average of $69.63 and a 200-day moving average of $67.85. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies has a 1-year low of $53.71 and a 1-year high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%. On average, equities analysts forecast that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 7,692 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $70.56, for a total value of $542,747.52. Following the transaction, the director directly owned 1,115,637 shares of the company’s stock, valued at approximately $78,719,346.72. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 4,205 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $63.67, for a total transaction of $267,732.35. Following the completion of the transaction, the insider directly owned 86,366 shares in the company, valued at approximately $5,498,923.22. The trade was a 4.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,114 shares of company stock valued at $2,228,405. 21.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Procore Technologies by 277.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after purchasing an additional 385 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Procore Technologies during the first quarter worth $49,000. Hilltop National Bank bought a new position in shares of Procore Technologies during the second quarter worth $62,000. Elevation Point Wealth Partners LLC bought a new position in shares of Procore Technologies during the second quarter worth $68,000. Finally, Signaturefd LLC boosted its position in shares of Procore Technologies by 53.4% during the first quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $79,000 after purchasing an additional 419 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

About Procore Technologies

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.