Deep Dive Into Procore Technologies Stock: Analyst Perspectives (8 Ratings)
During the last three months, 8 analysts shared their evaluations of Procore Technologies (NYSE:PCOR), revealing diverse outlooks from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 4 | 1 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 2 | 4 | 0 | 0 | 0 |
| 3M Ago | 1 | 0 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $80.75, a high estimate of $95.00, and a low estimate of $70.00. Observing a downward trend, the current average is 5.13% lower than the prior average price target of $85.12.
Diving into Analyst Ratings: An In-Depth Exploration
An in-depth analysis of recent analyst actions unveils how financial experts perceive Procore Technologies. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Matthew Brooks | Mizuho | Lowers | Neutral | $70.00 | $75.00 |
| David Hynes | Canaccord Genuity | Lowers | Buy | $80.00 | $95.00 |
| Saket Kalia | Barclays | Lowers | Overweight | $78.00 | $83.00 |
| Alexei Gogolev | JP Morgan | Raises | Overweight | $86.00 | $83.00 |
| Daniel Jester | BMO Capital | Lowers | Outperform | $85.00 | $90.00 |
| Matthew Brooks | Mizuho | Lowers | Buy | $75.00 | $80.00 |
| Brent Bracelin | Piper Sandler | Lowers | Overweight | $77.00 | $80.00 |
| Gil Luria | DA Davidson | Maintains | Buy | $95.00 | $95.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Procore Technologies. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Procore Technologies compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Procore Technologies's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
For valuable insights into Procore Technologies's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Procore Technologies analyst ratings.
About Procore Technologies
Procore Technologies Inc is a cloud-based construction management software company. It generates revenue through subscriptions for access to its software products. The company's products include Design Coordination, BIM, Field Productivity, Project Financials, Invoice Management, Portfolio Financials, Capital Planning, Accounting Integrations, and Analytics. The software products are hosted on its cloud-based SaaS construction management platform. Subscriptions are sold for a fixed fee and revenue is recognized ratably over the term of the subscription.
Key Indicators: Procore Technologies's Financial Health
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Procore Technologies's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 26.18%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Procore Technologies's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -4.07%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -0.93%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Procore Technologies's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -0.58%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Procore Technologies's debt-to-equity ratio is below the industry average at 0.06, reflecting a lower dependency on debt financing and a more conservative financial approach.
The Significance of Analyst Ratings Explained
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
This article was generated by Benzinga's automated content engine and reviewed by an editor.