While Procore Technologies Inc has overperformed by 1.76%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PCOR rose by 21.59%, with highs and lows ranging from $80.00 to $48.11, whereas the simple moving average jumped by 19.72% in the last 200 days.
On January 23, 2024, JP Morgan Reiterated Procore Technologies Inc (NYSE: PCOR) to Overweight. A report published by Oppenheimer on November 02, 2023, Downgraded its rating to ‘Perform’ for PCOR. Jefferies also Downgraded PCOR shares as ‘Hold’, setting a target price of $55 on the company’s shares in a report dated November 02, 2023. BMO Capital Markets Initiated an Outperform rating on October 26, 2023, and assigned a price target of $80. Loop Capital August 03, 2023d its ‘Buy’ rating to ‘Hold’ for PCOR, as published in its report on August 03, 2023. JP Morgan’s report from July 13, 2023 suggests a price prediction of $84 for PCOR shares, giving the stock a ‘Overweight’ rating. Scotiabank also rated the stock as ‘Sector Outperform’.
Analysis of Procore Technologies Inc (PCOR)
Further, the quarter-over-quarter increase in sales is 28.70%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Procore Technologies Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -16.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.49, 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.
An average volume of 1.31M can be a very valuable indicator of volatility for PCOR stock. On a monthly basis, the volatility of the stock is set at 3.49%, whereas on a weekly basis, it is put at 3.04%, with a gain of 1.05% over the past seven days. Furthermore, long-term investors anticipate a median target price of $87.07, showing growth from the present price of $78.85, 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?
In addition to the fundamentals, you should also consider how many employees own shares in the company. 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 10.97%. 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 79.69% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PCOR shares are owned by institutional investors to the tune of 79.69% at present.
