Research Analysts Set Expectations for PCOR FY2024 Earnings

Procore Technologies, Inc. (NYSE:PCOR) – DA Davidson raised their FY2024 earnings per share estimates for shares of Procore Technologies in a research note issued to investors on Thursday, October 31st. DA Davidson analyst G. Luria now expects that the company will post earnings of ($0.23) per share for the year, up from their previous forecast of ($0.27). DA Davidson currently has a “Neutral” rating and a $60.00 price objective on the stock. The consensus estimate for Procore Technologies’ current full-year earnings is ($0.28) per share. DA Davidson also issued estimates for Procore Technologies’ FY2025 earnings at ($0.22) EPS.

A number of other equities analysts have also recently commented on PCOR. Jefferies Financial Group lifted their price objective on shares of Procore Technologies from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on Procore Technologies from $63.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank decreased their price objective on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird initiated coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.94.

Procore Technologies Trading Up 1.5 %

Procore Technologies stock opened at $66.63 on Monday. Procore Technologies has a 52 week low of $48.11 and a 52 week high of $83.35. The stock has a market capitalization of $9.84 billion, a P/E ratio of -133.26 and a beta of 0.71. The stock has a 50-day simple moving average of $60.10 and a 200 day simple moving average of $63.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tanager Wealth Management LLP boosted its holdings in Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock valued at $834,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the period. Taylor Frigon Capital Management LLC lifted its holdings in Procore Technologies by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after buying an additional 180 shares during the period. Signaturefd LLC boosted its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $62.88, for a total value of $322,448.64. Following the completion of the transaction, the director now directly owns 1,345,464 shares in the company, valued at approximately $84,602,776.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of Procore Technologies stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now owns 79,156 shares in the company, valued at approximately $4,681,285.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,748 shares of company stock worth $5,661,056 in the last three months. 29.00% of the stock is owned by corporate insiders.

About Procore Technologies

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.