Procore Technologies Inc. (NYSE:PCOR) closed Friday at $68.02 per share, up from $67.55 a day earlier. While Procore Technologies Inc. has overperformed by 0.70%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PCOR rose by 24.58%, with highs and lows ranging from $76.86 to $41.80, whereas the simple moving average jumped by 15.12% in the last 200 days.
On August 03, 2023, Loop Capital Downgraded Procore Technologies Inc. (NYSE: PCOR) to Hold.
Analysis of Procore Technologies Inc. (PCOR)
Further, the quarter-over-quarter increase in sales is 32.70%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Procore Technologies Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -23.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and PCOR is recording an average volume of 958.61K. On a monthly basis, the volatility of the stock is set at 3.13%, whereas on a weekly basis, it is put at 2.73%, with a gain of 6.35% over the past seven days. Furthermore, long-term investors anticipate a median target price of $83.69, showing growth from the present price of $68.02, which can serve as yet another indication of whether PCOR is worth investing in or should be passed over.
How Do You Analyze Procore Technologies Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 83.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PCOR shares?
The recent increase in stakes in PCOR appears to be a result of several institutional investors and hedge funds increasing their positions. Iconiq Capital LLC’s position in PCOR has decreased by -1.82% in the first quarter. The company now owns 38,691,710 shares of the stock, with a value of $2.93 billion, following the sale of -718,390 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another decreased to its shares in PCOR during the first quarter, downing its stake by -0.70%. During the last quarter, the company picked up -68,649 additional shares for a total stake of worth $739.99 million, bringing number of shares owned by the company to 9,756,003.
During the first quarter, The Vanguard Group, Inc. added a 606,261 position in PCOR. Morgan Stanley Investment Managem sold an additional -0.32 million shares in the last quarter, decreasing its holdings by -6.47%, now holding 4.61 million shares worth $349.35 million. PCOR shares are owned by institutional investors to the tune of 83.80% at present.