William Blair lifts Procore Technologies Inc. [PCOR] price estimate. Who else is bullish?



Procore Technologies Inc. [NYSE: PCOR] gained 3.40% on the last trading session, reaching $80.99 price per share at the time. The company report on November 16, 2021 that New Survey Reveals Challenges and Opportunities for Construction Project Cost Management in Canada.

At 68 per cent, Canada led among its global counterparts in knowing where they are making or losing money at any given moment; however, less than 20 per cent are spending the right amount on technology.

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Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, released Canadian-focused findings from a report developed in partnership with Dodge Data & Analytics, a leading provider of commercial construction project data. The report found both owners and contractors in Canada face a variety of challenges when it comes to project cost management, but they believe using one streamlined tool will help facilitate construction projects and cost management more efficiently.

Procore Technologies Inc. represents 131.44 million in outstanding shares, while the company has a total market value of $10.42 billion with the latest information. PCOR stock price has been found in the range of $76.18 to $81.44.

If compared to the average trading volume of 417.54K shares, PCOR reached a trading volume of 825149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Procore Technologies Inc. [PCOR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PCOR shares is $114.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PCOR stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

William Blair have made an estimate for Procore Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 14, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on June 14, 2021, representing the official price target for Procore Technologies Inc. stock. Previously, the target price had yet another raise to $100, while Piper Sandler analysts kept a Overweight rating on PCOR stock.

The Average True Range (ATR) for Procore Technologies Inc. is set at 4.61, with the Price to Sales ratio for PCOR stock in the period of the last 12 months amounting to 21.79. The Price to Book ratio for the last quarter was 9.49, with the Price to Cash per share for the same quarter was set at 8.33.

Trading performance analysis for PCOR stock

Procore Technologies Inc. [PCOR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.15. With this latest performance, PCOR shares dropped by -14.08% in over the last four-week period, additionally sinking by -1.59% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PCOR stock in for the last two-week period is set at 36.23, with the RSI for the last a single of trading hit 33.25, and the three-weeks RSI is set at 39.13 for Procore Technologies Inc. [PCOR]. The present Moving Average for the last 50 days of trading for this stock 91.89, while it was recorded at 83.55 for the last single week of trading.

Procore Technologies Inc. [PCOR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Procore Technologies Inc. [PCOR] shares currently have an operating margin of -22.76 and a Gross Margin at +81.52. Procore Technologies Inc.’s Net Margin is presently recorded at -24.02.

Return on Total Capital for PCOR is now -21.81, given the latest momentum, and Return on Invested Capital for the company is -23.35. Additionally, PCOR Total Debt to Total Capital is recorded at 148.83, with Total Debt to Total Assets ending up at 101.05.

Reflecting on the efficiency of the workforce at the company, Procore Technologies Inc. [PCOR] managed to generate an average of -$50,087 per employee. Receivables Turnover for the company is 4.96 with a Total Asset Turnover recorded at a value of 0.60.Procore Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.70.

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An analysis of insider ownership at Procore Technologies Inc. [PCOR]

There are presently around $8,230 million, or 77.40% of PCOR stock, in the hands of institutional investors. The top three institutional holders of PCOR stocks are: ICONIQ CAPITAL, LLC with ownership of 47,159,858, which is approximately 0% of the company’s market cap and around 7.40% of the total institutional ownership; DEER VIII & CO. LTD., holding 15,762,963 shares of the stock with an approximate value of $1.28 billion in PCOR stocks shares; and TIGER GLOBAL MANAGEMENT LLC, currently with $771.47 million in PCOR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Procore Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 95 institutional holders increased their position in Procore Technologies Inc. [NYSE:PCOR] by around 5,035,650 shares. Additionally, 39 investors decreased positions by around 3,528,723 shares, while 11 investors held positions by with 93,055,709 shares. The mentioned changes placed institutional holdings at 101,620,082 shares, according to the latest SEC report filing. PCOR stock had 60 new institutional investments in for a total of 1,443,949 shares, while 17 institutional investors sold positions of 535,478 shares during the same period.



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