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Why Procore Technologies Inc. (PCOR)’s Most Recent Report Reveals Some Hints About Its Future

Procore Technologies Inc. (NYSE:PCOR) went up by 9.53% from its latest closing price compared to the recent 1-year high of $106.61. The company’s stock price has collected 21.65% of gains in the last five trading sessions. Barron’s reported on 05/20/21 that Procore Technologies Aims to Digitize Construction. Its IPO Gained 31%.

Is It Worth Investing in Procore Technologies Inc. (NYSE :PCOR) Right Now?

Opinions of the stock are interesting as 9 analysts out of 11 who provided ratings for Procore Technologies Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $73.30, which is $6.29 above the current price. PCOR currently public float of 118.95M and currently shorts hold a 2.72% ratio of that float. Today, the average trading volume of PCOR was 838.89K shares.

PCOR’s Market Performance

PCOR stocks went up by 21.65% for the week, with a monthly jump of 29.76% and a quarterly performance of 14.32%, while its annual performance rate touched -38.59%. The volatility ratio for the week stands at 5.61% while the volatility levels for the past 30 days are set at 5.37% for Procore Technologies Inc. The simple moving average for the period of the last 20 days is 26.64% for PCOR stocks with a simple moving average of -2.36% for the last 200 days.

Analysts’ Opinion of PCOR

Many brokerage firms have already submitted their reports for PCOR stocks, with Oppenheimer repeating the rating for PCOR by listing it as a “Outperform.” The predicted price for PCOR in the upcoming period, according to Oppenheimer is $60 based on the research report published on July 27th of the current year 2022.

Mizuho, on the other hand, stated in their research note that they expect to see PCOR reach a price target of $75. The rating they have provided for PCOR stocks is “Buy” according to the report published on March 29th, 2022.

Stifel gave a rating of “Buy” to PCOR, setting the target price at $85 in the report published on January 28th of the current year.

PCOR Trading at 30.90% from the 50-Day Moving Average

After a stumble in the market that brought PCOR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -41.81% of loss for the given period.

Volatility was left at 5.37%, however, over the last 30 days, the volatility rate increased by 5.61%, as shares surge +24.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +44.31% upper at present.

During the last 5 trading sessions, PCOR rose by +21.65%, which changed the moving average for the period of 200-days by -35.16% in comparison to the 20-day moving average, which settled at $49.60. In addition, Procore Technologies Inc. saw -22.42% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PCOR starting from Griffith William J.G., who purchase 171,489 shares at the price of $42.81 back on Jun 14. After this action, Griffith William J.G. now owns 1,069,534 shares of Procore Technologies Inc., valued at $7,341,111 using the latest closing price.

ICONIQ Strategic Partners VI,, the 10% Owner of Procore Technologies Inc., purchase 95,202 shares at $42.81 during a trade that took place back on Jun 14, which means that ICONIQ Strategic Partners VI, is holding 1,069,534 shares at $4,075,474 based on the most recent closing price.

Stock Fundamentals for PCOR

Current profitability levels for the company are sitting at:

  • -53.74 for the present operating margin
  • +79.69 for the gross margin

The net margin for Procore Technologies Inc. stands at -51.51. Equity return is now at value -28.10, with -20.10 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.86.