Procore Technologies (NYSE:PCOR) Announces Earnings Results, Misses Estimates By $0.46 EPS

Procore Technologies (NYSE:PCOR) announced its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46), Zacks reports. 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 Price Performance

PCOR stock traded up $0.84 during trading hours on Thursday, hitting $75.13. 2,122,162 shares of the stock traded hands, compared to its average volume of 1,118,443. 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 stock has a 50-day simple moving average of $77.73 and a 200 day simple moving average of $68.45. Procore Technologies has a one year low of $49.46 and a one year high of $86.67. The company has a market cap of $11.17 billion, a P/E ratio of -150.26 and a beta of 0.84.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of Procore Technologies in a report on Friday, February 7th. Piper Sandler upped their target price on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Canaccord Genuity Group raised their price target on Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Robert W. Baird upped their price objective on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Barclays increased their target price on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $190,388.48. Following the sale, the senior vice president now directly owns 72,605 shares of the company’s stock, valued at approximately $5,181,092.80. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,656 shares of company stock worth $8,776,297. 29.00% of the stock is owned by corporate insiders.

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.