Procore Technologies (NYSE:PCOR) Announces Earnings Results

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

Procore Technologies Trading Up 1.1 %

Shares of PCOR stock traded up $0.84 during mid-day trading on Thursday, reaching $75.13. The company’s stock had a trading volume of 2,122,162 shares, compared to its average volume of 1,118,443. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $11.17 billion, a PE ratio of -150.26 and a beta of 0.84. The company’s 50 day simple moving average is $77.73 and its 200-day simple moving average is $68.45. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCOR shares. Stifel Nicolaus upped their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets raised their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price target on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. TD Cowen raised their price objective on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, KeyCorp upped their target price on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Buying and Selling

In other news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares in the company, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $71.36, for a total transaction of $190,388.48. Following the completion of the transaction, the senior vice president now owns 72,605 shares in the company, valued at $5,181,092.80. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 114,656 shares of company stock valued at $8,776,297. Company insiders own 29.00% of the company’s stock.

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.