Procore Technologies (NYSE:PCOR) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Procore Technologies (NYSE:PCOR) from a hold rating to a buy rating in a report released on Saturday morning.

PCOR has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. DA Davidson raised shares of Procore Technologies to a “hold” rating in a research note on Friday. Citizens Jmp downgraded shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 1st. Barclays raised their target price on shares of Procore Technologies from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Finally, BMO Capital Markets lifted their price target on shares of Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.26.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $79.65 on Friday. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of -94.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. Procore Technologies has a 12 month low of $53.71 and a 12 month high of $88.92. The stock’s 50 day moving average price is $72.22 and its 200 day moving average price is $69.46.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.17%. The firm had revenue of $172.21 million for the quarter. Equities research analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Howard Fu sold 814 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $72.34, for a total value of $58,884.76. Following the completion of the sale, the chief financial officer owned 187,847 shares in the company, valued at approximately $13,588,851.98. This represents a 0.43% decrease in their position. 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 1,036 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $75.00, for a total transaction of $77,700.00. Following the transaction, the insider owned 85,330 shares in the company, valued at approximately $6,399,750. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,724 shares of company stock worth $2,122,519 over the last 90 days. 21.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in Procore Technologies by 23.6% during the 3rd quarter. Versant Capital Management Inc now owns 938 shares of the company’s stock worth $68,000 after acquiring an additional 179 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares during the period. George Kaiser Family Foundation boosted its holdings in shares of Procore Technologies by 1.0% during the second quarter. George Kaiser Family Foundation now owns 23,168 shares of the company’s stock worth $1,585,000 after purchasing an additional 240 shares during the period. Xponance Inc. grew its position in Procore Technologies by 1.8% during the first quarter. Xponance Inc. now owns 14,864 shares of the company’s stock valued at $981,000 after purchasing an additional 263 shares in the last quarter. Finally, TFB Advisors LLC increased its stake in Procore Technologies by 8.1% in the 1st quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock valued at $234,000 after buying an additional 264 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.