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

Procore Technologies (NYSE:PCOR) released its earnings results on Thursday. The company reported ($0.35) EPS 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 Stock Up 7.0 %

Procore Technologies stock opened at $80.38 on Friday. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of -160.77 and a beta of 0.84. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $86.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a 50 day moving average price of $77.54 and a two-hundred day moving average price of $68.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCOR. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of Procore Technologies in a research note on Friday, February 7th. BMO Capital Markets upped their price target 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. Canaccord Genuity Group lifted their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler raised their price objective on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group upped their price objective on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Insider Activity

In other news, Director Connor Kevin J. O sold 33,332 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the sale, the director now owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the sale, the insider now owns 83,039 shares of the company’s stock, valued at $6,477,042. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,656 shares of company stock valued at $8,776,297. 29.00% of the stock is currently owned by 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.