why Procore Technologies Inc [PCOR] is a Good Choice for Investors After New Price Target of $69.33

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Procore Technologies Inc [NYSE: PCOR] slipped around -9.7 points on Thursday, while shares priced at $50.47 at the close of the session, down -16.12%. The company report on November 1, 2023 at 4:05 PM that Procore Announces Third Quarter 2023 Financial Results.

Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced financial results for the third quarter ended September 30, 2023.

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“We remain excited about the long-term opportunity ahead of us, as we continue to deliver technology that drives the efficiency and productivity gains that are critical for our customers in today’s uncertain climate. Amidst a more challenging demand environment, we continued to advance our mission of connecting everyone in construction on a global platform, with a number of groundbreaking innovations to the Procore platform,” said Tooey Courtemanche, founder, president and CEO of Procore.

Procore Technologies Inc stock is now 6.97% up from its year-to-date (YTD) trading value. PCOR Stock saw the intraday high of $51.23 and lowest of $48.11 per share. The company’s 52-week high price is 76.86, which means current price is +20.74% above from all time high which was touched on 08/01/23.

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Compared to the average trading volume of 1.06M shares, PCOR reached a trading volume of 9874464 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $69.33 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 1.50. 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.

Oppenheimer have made an estimate for Procore Technologies Inc shares, keeping their opinion on the stock as Perform, with their previous recommendation back on Nov-03-23.

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The Average True Range (ATR) for Procore Technologies Inc is set at 3.15, with the Price to Sales ratio for PCOR stock in the period of the last 12 months amounting to 8.06. The Price to Book ratio for the last quarter was 6.43, with the Price to Cash per share for the same quarter was set at 4.40. Price to Free Cash Flow for PCOR in the course of the last twelve months was 189.60 with Quick ratio for the last quarter at 1.53.

How has PCOR stock performed recently?

Procore Technologies Inc [PCOR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.22. With this latest performance, PCOR shares dropped by -23.18% in over the last four-week period, additionally sinking by -11.05% over the last 6 months – not to mention a drop of -6.35% in the past year of trading.

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 21.42, with the RSI for the last a single of trading hit 13.83, and the three-weeks RSI is set at 27.32 for Procore Technologies Inc [PCOR]. The present Moving Average for the last 50 days of trading for this stock 64.79, while it was recorded at 58.70 for the last single week of trading, and 62.46 for the last 200 days.

Procore Technologies Inc [PCOR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Procore Technologies Inc [PCOR] shares currently have an operating margin of -39.02 and a Gross Margin at +77.18. Procore Technologies Inc’s Net Margin is presently recorded at -39.84.

Return on Total Capital for PCOR is now -22.51, given the latest momentum, and Return on Invested Capital for the company is -23.15. Return on Equity for this stock declined to -24.88, with Return on Assets sitting at -16.73. When it comes to the capital structure of this company, Procore Technologies Inc [PCOR] has a Total Debt to Total Equity ratio set at 8.45. Additionally, PCOR Total Debt to Total Capital is recorded at 7.79, with Total Debt to Total Assets ending up at 5.42. Long-Term Debt to Equity for the company is recorded at 7.49, with the Long-Term Debt to Total Capital now at 6.91.

Reflecting on the efficiency of the workforce at the company, Procore Technologies Inc [PCOR] managed to generate an average of -$80,418 per employee. Receivables Turnover for the company is 4.75 with a Total Asset Turnover recorded at a value of 0.42.Procore Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.53 and a Current Ratio set at 1.50.

Insider trade positions for Procore Technologies Inc [PCOR]

The top three institutional holders of PCOR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in PCOR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in PCOR stock with ownership which is approximately 5.7994%.

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