Procore Technologies, Inc. (NYSE:PCOR – Get Free Report) Director Elisa Steele sold 3,337 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $69.10, for a total value of $230,586.70. Following the sale, the director owned 55,034 shares of the company’s stock, valued at $3,802,849.40. The trade was a 5.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Elisa Steele also recently made the following trade(s):
- On Wednesday, August 19th, Elisa Steele sold 1,500 shares of Procore Technologies stock. The stock was sold at an average price of $63.00, for a total transaction of $94,500.00.
Procore Technologies Stock Performance
PCOR opened at $75.33 on Monday. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $80.40. The firm has a 50 day moving average price of $57.53 and a 200 day moving average price of $53.50. The company has a market cap of $11.45 billion, a PE ratio of -327.49 and a beta of 0.75.
Procore Technologies (NYSE:PCOR – Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.31% and a positive return on equity of 2.59%. The firm had revenue of $402.31 million for the quarter, compared to analysts’ expectations of $384.38 million. During the same period in the previous year, the company posted $0.42 earnings per share. Procore Technologies’s revenue was up 18.7% compared to the same quarter last year. On average, sell-side analysts predict that Procore Technologies, Inc. will post 0.43 earnings per share for the current year.
Key Procore Technologies News
Here are the key news stories impacting Procore Technologies this week:
- Positive Sentiment: Procore reported Q3 earnings of $0.51 per share, topping estimates of about $0.45–$0.46. Revenue rose 18.7% year over year to $402.3 million, also exceeding expectations. Shares climbed 12.4% following the earnings beat. Procore shares climb following earnings beat
- Positive Sentiment: Several firms raised their price targets and maintained or issued bullish ratings. Citizens JMP lifted its target to $91, while UBS raised its target to $95 and reiterated Buy; Loop Capital also upgraded the stock from Hold to Buy with a $93 target. These actions signal stronger analyst confidence after the results. Citizens JMP raises Procore price target
- Neutral Sentiment: A Procore director sold 7,692 shares under a pre-arranged Rule 10b5-1 trading plan. The sale was a small reduction in his holdings, which remained substantial after the transaction. Director share sale
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. TD Cowen upped their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. BTIG Research raised their target price on Procore Technologies from $66.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets boosted their price target on Procore Technologies from $56.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Truist Financial set a $91.00 price target on Procore Technologies in a report on Thursday. Finally, DA Davidson set a $56.00 price target on Procore Technologies in a report on Monday, September 28th. Eighteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $80.35.
View Our Latest Stock Report on PCOR
Hedge Funds Weigh In On Procore Technologies
Several large investors have recently modified their holdings of PCOR. BlackRock Inc. bought a new position in Procore Technologies in the 2nd quarter worth about $300,345,000. Deutsche Bank AG bought a new stake in shares of Procore Technologies during the second quarter valued at approximately $114,444,000. Assenagon Asset Management S.A. raised its holdings in shares of Procore Technologies by 95.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,398,163 shares of the company’s stock valued at $178,653,000 after buying an additional 2,146,182 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Procore Technologies during the third quarter worth approximately $86,864,000. Finally, Bamco Inc. NY acquired a new position in shares of Procore Technologies during the second quarter worth approximately $62,116,000. Institutional investors own 81.10% of the company’s stock.
About Procore Technologies
Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals.
Procore’s products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.
Founded in 2002, Procore serves customers in multiple regions, including North America, Europe and Asia-Pacific.
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