Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) shares traded up 9.3% during trading on Monday . The stock traded as high as $46.52 and last traded at $46.81. Approximately 649,675 shares were traded during trading, a decline of 75% from the average daily volume of 2,640,271 shares. The stock had previously closed at $42.83.
Analyst Upgrades and Downgrades
PCOR has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Procore Technologies in a report on Monday, July 6th. The Goldman Sachs Group reduced their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Piper Sandler decreased their price target on shares of Procore Technologies from $79.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Jefferies Financial Group lowered their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Guggenheim assumed coverage on shares of Procore Technologies in a research note on Thursday. They issued a “buy” rating and a $68.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.47.
Get Our Latest Research Report on PCOR
Procore Technologies Stock Up 8.8%
Procore Technologies (NYSE:PCOR – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.24%. The company had revenue of $359.28 million during the quarter, compared to analyst estimates of $352.82 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts expect that Procore Technologies, Inc. will post 0.06 EPS for the current year.
Insider Buying and Selling at Procore Technologies
In other news, insider Benjamin C. Singer sold 3,942 shares of Procore Technologies stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $50.00, for a total value of $197,100.00. Following the sale, the insider owned 96,723 shares of the company’s stock, valued at $4,836,150. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 5,775 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $42.92, for a total transaction of $247,863.00. Following the transaction, the director owned 979,439 shares in the company, valued at approximately $42,037,521.88. This trade represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 189,621 shares of company stock valued at $8,791,847. 16.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On Procore Technologies
A number of institutional investors have recently added to or reduced their stakes in the business. Blue Owl Capital Holdings LP purchased a new position in Procore Technologies in the fourth quarter worth $6,857,000. Robinhood Asset Management LLC purchased a new stake in shares of Procore Technologies during the 4th quarter worth $7,136,000. Stephens Investment Management Group LLC grew its stake in shares of Procore Technologies by 23.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 543,159 shares of the company’s stock worth $30,960,000 after purchasing an additional 102,574 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Procore Technologies by 105.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 45,802 shares of the company’s stock worth $3,332,000 after purchasing an additional 23,555 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Procore Technologies in the 1st quarter valued at about $3,181,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.
Procore Technologies Company Profile
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. 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 Execution, 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.
Read More
- Five stocks we like better than Procore Technologies
- AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next
- Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now
- Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?
- Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight
Receive News & Ratings for Procore Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procore Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
