While Procore Technologies Inc has underperformed by -0.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PCOR fell by -18.49%, with highs and lows ranging from $83.35 to $48.11, whereas the simple moving average fell by -18.82% in the last 200 days.
On August 02, 2024, DA Davidson Downgraded Procore Technologies Inc (NYSE: PCOR) to Neutral. A report published by Barclays on August 02, 2024, Downgraded its rating to ‘Equal Weight’ for PCOR. Macquarie also rated PCOR shares as ‘Neutral’, setting a target price of $70 on the company’s shares in an initiating report dated June 05, 2024. Mizuho June 04, 2024d the rating to Neutral on June 04, 2024, and set its price target from $75 to $70. JP Morgan resumed its ‘Overweight’ rating for PCOR, as published in its report on January 23, 2024. Jefferies also rated the stock as ‘Hold’.
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Analysis of Procore Technologies Inc (PCOR)
Further, the quarter-over-quarter increase in sales is 24.42%, showing a positive trend in the upcoming months.
One of the most important indicators of Procore Technologies Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -7.64% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.55, 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.
For any stock, average volume can also provide valuable insight into volatility, and PCOR is recording 1.90M average volume. On a monthly basis, the volatility of the stock is set at 3.21%, whereas on a weekly basis, it is put at 3.09%, with a loss of -6.89% over the past seven days. Furthermore, long-term investors anticipate a median target price of $65.25, showing growth from the present price of $55.38, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of 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 8.84%. 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 86.31% 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 86.31% at present.
