Procore Technologies, Inc. (NYSE:PCOR – Get Free Report)’s stock price dropped 4.4% during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $90.00 to $85.00. Stifel Nicolaus currently has a buy rating on the stock. Procore Technologies traded as low as $65.69 and last traded at $65.83. Approximately 887,280 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,316,435 shares. The stock had previously closed at $68.86.
Other analysts have also recently issued research reports about the company. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price target on shares of Procore Technologies in a research report on Tuesday, June 11th. Mizuho reiterated a “neutral” rating and set a $70.00 price objective (down previously from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. Canaccord Genuity Group dropped their target price on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays reduced their price target on shares of Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Procore Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.88.
Insider Buying and Selling at Procore Technologies
In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the sale, the chief executive officer now owns 530,049 shares of the company’s stock, valued at $36,557,479.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Howard Fu sold 1,441 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the sale, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at $13,648,481.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the transaction, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The disclosure for this sale can be found here. Insiders sold a total of 297,554 shares of company stock valued at $20,096,420 in the last three months. Company insiders own 29.00% of the company’s stock.
Hedge Funds Weigh In On Procore Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after buying an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Procore Technologies during the fourth quarter worth about $62,000. Advisors Asset Management Inc. increased its holdings in shares of Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after acquiring an additional 260 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Procore Technologies by 30.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Procore Technologies by 29.3% in the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after purchasing an additional 300 shares during the period. 81.10% of the stock is currently owned by institutional investors.
Procore Technologies Stock Performance
The firm has a 50 day moving average price of $67.16 and a 200-day moving average price of $71.51. The stock has a market capitalization of $9.52 billion, a PE ratio of -71.73 and a beta of 0.75. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04.
Procore Technologies (NYSE:PCOR – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The company had revenue of $269.43 million during the quarter, compared to analysts’ expectations of $263.13 million. Research analysts expect that Procore Technologies, Inc. will post -0.35 EPS for the current fiscal year.
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.