Procore Technologies (NYSE:PCOR – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Wednesday, May 3rd. Analysts expect Procore Technologies to post earnings of ($0.12) per share for the quarter. Persons who wish to register for the company’s earnings conference call can do so using this link.
Procore Technologies (NYSE:PCOR – Get Rating) last posted its earnings results on Thursday, February 16th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.02). The firm had revenue of $202.05 million during the quarter, compared to the consensus estimate of $190.26 million. Procore Technologies has a negative net margin of 39.84% and a negative return on equity of 20.64%. On average, analysts expect Procore Technologies to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.
Procore Technologies Stock Performance
NYSE:PCOR opened at $52.26 on Wednesday. The stock’s 50-day moving average is $59.92 and its 200-day moving average is $54.61. The stock has a market cap of $7.33 billion, a P/E ratio of -24.89 and a beta of 0.58. Procore Technologies has a 1-year low of $40.00 and a 1-year high of $68.56. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.04.
Insider Buying and Selling
In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $56.22, for a total value of $288,296.16. Following the completion of the sale, the director now owns 1,535,154 shares of the company’s stock, valued at $86,306,357.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP William Fred Fleming, Jr. sold 2,119 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $64.25, for a total value of $136,145.75. Following the transaction, the senior vice president now owns 62,870 shares of the company’s stock, valued at approximately $4,039,397.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $56.22, for a total value of $288,296.16. Following the sale, the director now directly owns 1,535,154 shares of the company’s stock, valued at $86,306,357.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,945 shares of company stock valued at $9,338,086. 40.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PCOR. Virtu Financial LLC purchased a new stake in Procore Technologies in the 1st quarter valued at $249,000. Royal Bank of Canada grew its stake in shares of Procore Technologies by 123.0% in the 3rd quarter. Royal Bank of Canada now owns 4,691 shares of the company’s stock worth $231,000 after acquiring an additional 2,587 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of Procore Technologies by 4.5% in the fourth quarter. Pathstone Family Office LLC now owns 4,692 shares of the company’s stock valued at $228,000 after purchasing an additional 204 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Procore Technologies during the third quarter valued at about $223,000. Finally, MetLife Investment Management LLC purchased a new position in Procore Technologies during the first quarter worth about $180,000. Institutional investors own 82.50% of the company’s stock.
Analyst Ratings Changes
PCOR has been the topic of a number of recent research reports. The Goldman Sachs Group cut their price target on shares of Procore Technologies from $77.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, February 17th. Piper Sandler upped their target price on Procore Technologies from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Mizuho lowered their price target on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 17th. Oppenheimer upped their price objective on shares of Procore Technologies from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Finally, KeyCorp lowered their target price on shares of Procore Technologies from $86.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Three equity research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.46.
Procore Technologies Company Profile
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Procore Technologies, Inc provides a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables general and specialty contractors, architects and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.
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