Key Points
- Insider sale: Benjamin Singer sold 2,713 shares of Procore (NYSE:PCOR) on Feb 23 at an average price of $50.41 for about $136,762, reducing his holding to 68,885 shares (a 3.79% decrease), per the SEC Form 4 filing.
- Quarterly results: Procore reported Q4 EPS of $0.37 (beating estimates) and revenue of $349.11M (up 15.6% YoY), but the company still posts a negative net margin (−7.62%) and negative ROE.
- Analyst outlook: Wall Street’s consensus is a "Moderate Buy" with a $76.95 target, though several firms recently cut price targets (e.g., Stifel to $63, Canaccord to $72), reflecting mixed near-term sentiment.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) insider Benjamin Singer sold 2,713 shares of Procore Technologies stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $50.41, for a total value of $136,762.33. Following the completion of the sale, the insider owned 68,885 shares in the company, valued at $3,472,492.85. This represents a 3.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Procore Technologies Stock Performance
Shares of Procore Technologies stock opened at $50.84 on Wednesday. The firm has a market cap of $7.90 billion, a PE ratio of -75.88 and a beta of 0.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 52 week low of $46.08 and a 52 week high of $82.32. The business's fifty day simple moving average is $63.85 and its 200-day simple moving average is $69.11.
Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 4.00%. The firm had revenue of $349.11 million for the quarter, compared to analyst estimates of $340.80 million. During the same period in the previous year, the firm earned $0.01 EPS. Procore Technologies's revenue was up 15.6% on a year-over-year basis. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.
Hedge Funds Weigh In On Procore Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in shares of Procore Technologies by 9.7% in the fourth quarter. Invesco Ltd. now owns 132,034 shares of the company's stock worth $9,604,000 after acquiring an additional 11,673 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Procore Technologies by 7.9% in the fourth quarter. Corient Private Wealth LLC now owns 5,302 shares of the company's stock valued at $387,000 after acquiring an additional 389 shares in the last quarter. Vident Advisory LLC boosted its holdings in Procore Technologies by 6.0% in the fourth quarter. Vident Advisory LLC now owns 3,860 shares of the company's stock valued at $281,000 after purchasing an additional 219 shares during the period. XN LP boosted its holdings in Procore Technologies by 0.5% in the fourth quarter. XN LP now owns 2,323,031 shares of the company's stock valued at $168,977,000 after purchasing an additional 11,481 shares during the period. Finally, XTX Topco Ltd acquired a new position in Procore Technologies during the 4th quarter worth $4,779,000. Hedge funds and other institutional investors own 81.10% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on PCOR shares. Stifel Nicolaus decreased their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, February 13th. KeyCorp cut their target price on Procore Technologies from $91.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. Canaccord Genuity Group decreased their price target on Procore Technologies from $90.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. UBS Group lowered their price target on Procore Technologies from $87.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets dropped their price objective on Procore Technologies from $87.00 to $67.00 and set an "outperform" rating for the company in a research note on Thursday, February 5th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $76.95.
View Our Latest Stock Analysis on Procore Technologies
About Procore Technologies
(
Get Free Report)
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.
Further Reading
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