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Oppenheimer Maintains a Buy Rating on Procore Technologies (PCOR)

Oppenheimer analyst Kenneth Wong maintained a Buy rating on Procore Technologies (PCORResearch Report) yesterday and set a price target of $70.00. The company’s shares closed last Wednesday at $56.64.

According to TipRanks.com, Wong is a 4-star analyst with an average return of 5.3% and a 51.1% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Altair Engineering, and Bill.com Holdings.

Procore Technologies has an analyst consensus of Strong Buy, with a price target consensus of $73.63, representing a 34.0% upside. In a report issued on July 19, Mizuho Securities also maintained a Buy rating on the stock with a $57.00 price target.

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Based on Procore Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $160 million and GAAP net loss of $71.42 million. In comparison, last year the company earned revenue of $114 million and had a GAAP net loss of $13.73 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PCOR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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