Procore Technologies (NYSE:PCOR) Now Covered by Berenberg Bank

Berenberg Bank initiated coverage on shares of Procore Technologies (NYSE:PCOR) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $84.00 price target on the stock.

Several other equities research analysts have also issued reports on PCOR. Mizuho lifted their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Barclays lifted their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Robert W. Baird lifted their price objective on shares of Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Citizens Jmp lowered shares of Procore Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. Finally, BMO Capital Markets lifted their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.11.

Procore Technologies Trading Up 1.3%

Shares of NYSE:PCOR opened at $72.66 on Friday. The firm has a fifty day moving average of $68.94 and a two-hundred day moving average of $67.68. The firm has a market capitalization of $10.91 billion, a P/E ratio of -75.68 and a beta of 0.90. Procore Technologies has a 12-month low of $53.71 and a 12-month high of $88.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $323.92 million during the quarter, compared to analyst estimates of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 8,035 shares of Procore Technologies stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $72.36, for a total value of $581,412.60. Following the transaction, the director owned 1,154,097 shares in the company, valued at $83,510,458.92. This trade represents a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin C. Singer sold 4,500 shares of Procore Technologies stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $75.00, for a total transaction of $337,500.00. Following the completion of the transaction, the insider owned 97,557 shares in the company, valued at $7,316,775. This trade represents a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,649 shares of company stock worth $3,164,856 in the last quarter. 21.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCOR. Brighton Jones LLC bought a new position in shares of Procore Technologies during the 4th quarter worth about $511,000. Two Sigma Investments LP increased its holdings in shares of Procore Technologies by 5.3% during the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company’s stock worth $313,000 after purchasing an additional 210 shares during the period. GAMMA Investing LLC increased its holdings in shares of Procore Technologies by 10,900.4% during the 1st quarter. GAMMA Investing LLC now owns 82,063 shares of the company’s stock worth $5,418,000 after purchasing an additional 81,317 shares during the period. Rhumbline Advisers increased its holdings in shares of Procore Technologies by 9.6% during the 1st quarter. Rhumbline Advisers now owns 154,541 shares of the company’s stock worth $10,203,000 after purchasing an additional 13,534 shares during the period. Finally, Portside Wealth Group LLC bought a new position in shares of Procore Technologies during the 1st quarter worth about $199,000. Institutional investors own 81.10% of the company’s stock.

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.