Key Points
- Director Connor Kevin O sold 7,692 Procore shares at an average price of $54.98, generating $422,906.16. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct holdings by 0.81% to 939,054 shares.
- Procore’s latest quarterly results exceeded expectations, with adjusted EPS of $0.47 versus the $0.42 consensus and revenue of $375.21 million, up 15.8% year over year.
- Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and a $70.44 average price target, compared with a recent share price of $55.51.
Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) Director Connor Kevin O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $54.98, for a total transaction of $422,906.16. Following the sale, the director directly owned 939,054 shares in the company, valued at $51,629,188.92. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Procore Technologies Price Performance
PCOR stock opened at $55.51 on Thursday. Procore Technologies, Inc. has a 1 year low of $38.03 and a 1 year high of $82.32. The company has a market cap of $8.43 billion, a P/E ratio of -213.48 and a beta of 0.70. The firm has a 50-day moving average of $45.36 and a 200 day moving average of $51.42.
Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The business had revenue of $375.21 million during the quarter, compared to analyst estimates of $365.82 million. During the same period last year, the business posted $0.35 earnings per share. Procore Technologies's quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts expect that Procore Technologies, Inc. will post 0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Procore Technologies
A number of hedge funds have recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company's stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Procore Technologies during the third quarter valued at approximately $34,000. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $41,000. Allworth Financial LP raised its holdings in Procore Technologies by 48.2% in the 4th quarter. Allworth Financial LP now owns 627 shares of the company's stock worth $46,000 after acquiring an additional 204 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in Procore Technologies during the 4th quarter valued at $54,000. Institutional investors own 81.10% of the company's stock.
Wall Street Analyst Weigh In
PCOR has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on Procore Technologies from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Barclays raised their price objective on Procore Technologies from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday. Piper Sandler reduced their target price on shares of Procore Technologies from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. TD Cowen decreased their price target on shares of Procore Technologies from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Procore Technologies in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $70.44.
Check Out Our Latest Stock Analysis on Procore Technologies
Procore Technologies Company Profile
(
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.
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