Procore Technologies (NYSE:PCOR) Now Covered by Analysts at UBS Group

Stock analysts at UBS Group started coverage on shares of Procore Technologies (NYSE:PCOR) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $105.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 29.31% from the stock’s current price.

PCOR has been the subject of several other reports. Scotiabank upped their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. JMP Securities lowered their price objective on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. KeyCorp boosted their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. DA Davidson raised their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Robert W. Baird assumed coverage on shares of Procore Technologies in a research note on Tuesday, September 24th. They set an “outperform” rating and a $73.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.65.

Procore Technologies Stock Performance

Shares of PCOR opened at $81.20 on Monday. The company’s 50 day simple moving average is $66.45 and its 200-day simple moving average is $64.40. The firm has a market cap of $12.07 billion, a PE ratio of -162.40 and a beta of 0.71. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The company had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. As a group, equities analysts predict that Procore Technologies will post -0.23 EPS for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the sale, the chief financial officer now owns 171,997 shares in the company, valued at approximately $12,340,784.75. This represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn Bueker sold 6,500 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the transaction, the director now directly owns 23,932 shares of the company’s stock, valued at approximately $1,866,935.32. This trade represents a 21.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,553 shares of company stock valued at $7,933,974. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC lifted its stake in shares of Procore Technologies by 16.9% during the second quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after buying an additional 1,266 shares during the period. M&G Plc raised its holdings in Procore Technologies by 12.4% in the 2nd quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after acquiring an additional 13,334 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after acquiring an additional 272,030 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its holdings in shares of Procore Technologies by 30.2% during the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock worth $7,825,000 after purchasing an additional 29,431 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Procore Technologies by 118.0% in the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock valued at $1,158,000 after purchasing an additional 9,454 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.