Procore Technologies, Inc. (NYSE:PCOR) to Post Q2 2024 Earnings of ($0.10) Per Share, DA Davidson Forecasts

Procore Technologies, Inc. (NYSE:PCOR) – DA Davidson issued their Q2 2024 earnings per share estimates for shares of Procore Technologies in a report released on Thursday, May 2nd. DA Davidson analyst G. Luria forecasts that the company will earn ($0.10) per share for the quarter. DA Davidson currently has a “Buy” rating and a $95.00 target price on the stock. The consensus estimate for Procore Technologies’ current full-year earnings is ($0.62) per share. DA Davidson also issued estimates for Procore Technologies’ FY2024 earnings at ($0.48) EPS and FY2025 earnings at ($0.26) EPS.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. The firm had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their target price on Procore Technologies from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JMP Securities increased their price target on shares of Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus increased their target price on shares of Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Canaccord Genuity Group lowered their price target on Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.79.

Procore Technologies Trading Up 0.5 %

Shares of NYSE:PCOR opened at $68.49 on Monday. Procore Technologies has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The company has a market cap of $9.93 billion, a P/E ratio of -71.09 and a beta of 0.78. The stock’s 50-day moving average is $76.24 and its 200-day moving average is $68.93.

Institutional Trading of Procore Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. BluePath Capital Management LLC acquired a new position in Procore Technologies during the 3rd quarter worth $36,000. International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,823.1% in the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after acquiring an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Procore Technologies in the fourth quarter worth about $62,000. BI Asset Management Fondsmaeglerselskab A S increased its position in Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after purchasing an additional 297 shares during the period. Finally, TFO Wealth Partners LLC lifted its position in Procore Technologies by 43,600.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after purchasing an additional 2,180 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 8,000 shares of Procore Technologies stock in a transaction on Friday, February 9th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the completion of the transaction, the insider now directly owns 116,318 shares of the company’s stock, valued at $8,723,850. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Procore Technologies news, insider Benjamin C. Singer sold 8,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $75.00, for a total transaction of $600,000.00. Following the sale, the insider now directly owns 116,318 shares of the company’s stock, valued at $8,723,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of Procore Technologies stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the transaction, the senior vice president now owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The disclosure for this sale can be found here. Insiders have sold 533,544 shares of company stock worth $41,139,271 over the last three months. Company insiders own 39.20% 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.