Fintel reports that on December 2, 2024, UBS initiated coverage of Procore Technologies (NYSE:PCOR) with a Buy recommendation.
Analyst Price Forecast Suggests 16.49% Downside
As of November 20, 2024, the average one-year price target for Procore Technologies is $67.81/share. The forecasts range from a low of $55.55 to a high of $78.75. The average price target represents a decrease of 16.49% from its latest reported closing price of $81.20 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Procore Technologies is 1,080MM, a decrease of 2.68%. The projected annual non-GAAP EPS is -0.41.
What is the Fund Sentiment?
There are 742 funds or institutions reporting positions in Procore Technologies. This is an decrease of 11 owner(s) or 1.46% in the last quarter. Average portfolio weight of all funds dedicated to PCOR is 0.44%, an increase of 2.43%. Total shares owned by institutions increased in the last three months by 3.41% to 149,698K shares. 
The put/call ratio of PCOR is 0.17, indicating a bullish outlook.
What are Other Shareholders Doing?
ICONIQ Capital holds 27,994K shares representing 18.83% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 5,117K shares representing 3.44% ownership of the company. In its prior filing, the firm reported owning 6,900K shares , representing a decrease of 34.84%. The firm decreased its portfolio allocation in PCOR by 66.84% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 3,581K shares representing 2.41% ownership of the company. In its prior filing, the firm reported owning 5,058K shares , representing a decrease of 41.24%. The firm decreased its portfolio allocation in PCOR by 32.84% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,253K shares representing 2.19% ownership of the company. In its prior filing, the firm reported owning 3,248K shares , representing an increase of 0.17%. The firm decreased its portfolio allocation in PCOR by 12.43% over the last quarter.
Cadian Capital Management holds 2,822K shares representing 1.90% ownership of the company. In its prior filing, the firm reported owning 2,211K shares , representing an increase of 21.65%. The firm increased its portfolio allocation in PCOR by 22.21% over the last quarter.
Procore Technologies Background Information
(This description is provided by the company.)
Procore is a leading provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
