Fintel reports that on July 11, 2023, Scotiabank upgraded their outlook for Procore Technologies (NYSE:PCOR) from Sector Perform to Sector Outperform .
Analyst Price Forecast Suggests 18.88% Upside
As of July 5, 2023, the average one-year price target for Procore Technologies is 77.59. The forecasts range from a low of 67.67 to a high of $92.40. The average price target represents an increase of 18.88% from its latest reported closing price of 65.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Procore Technologies is 890MM, an increase of 14.99%. The projected annual non-GAAP EPS is -0.53.
What is the Fund Sentiment?
There are 556 funds or institutions reporting positions in Procore Technologies. This is an increase of 58 owner(s) or 11.65% in the last quarter. Average portfolio weight of all funds dedicated to PCOR is 0.45%, an increase of 27.77%. Total shares owned by institutions increased in the last three months by 1.32% to 127,058K shares. 
The put/call ratio of PCOR is 0.09, indicating a bullish outlook.
What are Other Shareholders Doing?
ICONIQ Capital holds 42,145K shares representing 30.00% ownership of the company. In it's prior filing, the firm reported owning 45,561K shares, representing a decrease of 8.11%. The firm decreased its portfolio allocation in PCOR by 61.11% over the last quarter.
Price T Rowe Associates holds 9,909K shares representing 7.05% ownership of the company. In it's prior filing, the firm reported owning 9,175K shares, representing an increase of 7.41%. The firm increased its portfolio allocation in PCOR by 33.42% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 7,846K shares representing 5.58% ownership of the company. In it's prior filing, the firm reported owning 7,290K shares, representing an increase of 7.09%. The firm increased its portfolio allocation in PCOR by 35.01% over the last quarter.
Deer Management Co. holds 6,666K shares representing 4.74% ownership of the company. In it's prior filing, the firm reported owning 8,242K shares, representing a decrease of 23.65%. The firm increased its portfolio allocation in PCOR by 6.70% over the last quarter.
Jpmorgan Chase holds 4,024K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 3,137K shares, representing an increase of 22.04%. The firm increased its portfolio allocation in PCOR by 57.35% 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.
Additional reading:
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- Procore Announces Two Leadership Appointments Paul Lyandres transitions to president of fintech and Howard Fu is promoted to CFO
- Procore Announces First Quarter 2023 Financial Results
- List of subsidiaries of the Registrant
- Procore Announces Fourth Quarter and Full Year 2022 Financial Results Fifth Consecutive Quarter of Short Term RPO Year-Over-Year Growth Above 30%
This story originally appeared on Fintel.
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