The stock price of Procore Technologies Inc (NYSE: PCOR) has jumped by 3.83 compared to previous close of 70.99. Despite this, the company has seen a gain of 3.27% in its stock price over the last five trading days. zacks.com reported 2024-11-08 that Does Procore Technologies (PCOR) have what it takes to be a top stock pick for momentum investors? Let’s find out.
Is It Worth Investing in Procore Technologies Inc (NYSE: PCOR) Right Now?
Moreover, the 36-month beta value for PCOR is 0.74. Analysts have varying opinions on the stock, with 9 analysts rating it as a “buy,” 2 as “overweight,” 9 as “hold,” and 0 as “sell.”
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The public float for PCOR is 135.69M and currently, short sellers hold a 7.15% of that float. On November 13, 2024, PCOR’s average trading volume was 1.72M shares.
PCOR’s Market Performance
The stock of Procore Technologies Inc (PCOR) has seen a 3.27% increase in the past week, with a 17.30% rise in the past month, and a 30.44% gain in the past quarter. The volatility ratio for the week is 2.65%, and the volatility levels for the past 30 days are at 3.22% for PCOR. The simple moving average for the past 20 days is 11.52% for PCOR’s stock, with a 9.23% simple moving average for the past 200 days.
Analysts’ Opinion of PCOR
Many brokerage firms have already submitted their reports for PCOR stocks, with Robert W. Baird repeating the rating for PCOR by listing it as a “Outperform.” The predicted price for PCOR in the upcoming period, according to Robert W. Baird is $73 based on the research report published on September 24, 2024 of the current year 2024.
DA Davidson, on the other hand, stated in their research note that they expect to see PCOR reach a price target of $60, previously predicting the price at $90. The rating they have provided for PCOR stocks is “Neutral” according to the report published on August 02nd, 2024.
Barclays gave a rating of “Equal Weight” to PCOR, setting the target price at $54 in the report published on August 02nd of the current year.
PCOR Trading at 19.06% 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 -11.56% of loss for the given period.
Volatility was left at 3.22%, however, over the last 30 days, the volatility rate increased by 2.65%, as shares surge +16.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.77% upper at present.
During the last 5 trading sessions, PCOR rose by +2.34%, which changed the moving average for the period of 200-days by -0.07% in comparison to the 20-day moving average, which settled at $66.06. In addition, Procore Technologies Inc saw 6.49% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PCOR starting from Fleming William Fred Jr, who sale 15,000 shares at the price of $70.75 back on Nov 06 ’24. After this action, Fleming William Fred Jr now owns 75,120 shares of Procore Technologies Inc, valued at $1,061,250 using the latest closing price.
Fu Howard, the CFO & Treasurer of Procore Technologies Inc, sale 1,500 shares at $71.75 during a trade that took place back on Nov 07 ’24, which means that Fu Howard is holding 171,997 shares at $107,625 based on the most recent closing price.
Stock Fundamentals for PCOR
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.82 for the gross margin
The net margin for Procore Technologies Inc stands at -0.07. The total capital return value is set at -0.08. Equity return is now at value -6.07, with -3.85 for asset returns.
Based on Procore Technologies Inc (PCOR), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at 2.81. The debt to equity ratio resting at 0.06. The interest coverage ratio of the stock is 111.54.
Currently, EBITDA for the company is -139.81 million with net debt to EBITDA at 5.18. When we switch over and look at the enterprise to sales, we see a ratio of 9.55. The receivables turnover for the company is 4.44for trailing twelve months and the total asset turnover is 0.55. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.57.
Conclusion
To wrap up, the performance of Procore Technologies Inc (PCOR) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
