Procore Technologies (NYSE:PCOR) Issues Earnings Results

Procore Technologies (NYSE:PCOR) released its quarterly earnings results on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46), Zacks reports. The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Procore Technologies updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded up $12.38 during mid-day trading on Friday, reaching $87.48. The company had a trading volume of 4,580,396 shares, compared to its average volume of 993,712. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of -174.96 and a beta of 0.84. The company’s 50-day moving average price is $77.63 and its 200-day moving average price is $68.62. Procore Technologies has a one year low of $49.46 and a one year high of $87.90.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the sale, the director now owns 1,231,368 shares of the company’s stock, valued at $94,532,121.36. The trade was a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the sale, the senior vice president now directly owns 72,605 shares in the company, valued at $5,181,092.80. The trade was a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,656 shares of company stock valued at $8,776,297. 29.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Mizuho lifted their price target on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their price target on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Scotiabank lifted their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of Procore Technologies in a research note on Friday, February 7th. Finally, DA Davidson lifted their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.