DA Davidson Analysts Increase Earnings Estimates for PCOR

Procore Technologies, Inc. (NYSE:PCOR - Free Report) - Stock analysts at DA Davidson raised their FY2024 EPS estimates for shares of Procore Technologies in a research note issued to investors on Thursday, October 31st. DA Davidson analyst G. Luria now anticipates that the company will earn ($0.23) per share for the year, up from their prior estimate of ($0.27). DA Davidson currently has a "Neutral" rating and a $60.00 target price 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.

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

Several other analysts also recently commented on PCOR. Barclays raised their price objective on shares of Procore Technologies from $64.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Thursday. BMO Capital Markets dropped their price objective on shares of Procore Technologies from $85.00 to $71.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Baird R W raised shares of Procore Technologies to a "strong-buy" rating in a research report on Tuesday, September 24th. Scotiabank decreased their target price on Procore Technologies from $90.00 to $70.00 and set a "sector outperform" rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird initiated coverage on Procore Technologies in a report on Tuesday, September 24th. They issued an "outperform" rating and a $73.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.94.

Procore Technologies Trading Down 0.0 %

NYSE PCOR traded down $0.02 during trading hours on Monday, hitting $66.61. 1,897,149 shares of the company's stock were exchanged, compared to its average volume of 1,553,588. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of -133.22 and a beta of 0.71. The stock has a 50-day simple moving average of $60.20 and a 200 day simple moving average of $63.75. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $83.35.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $53.65, for a total transaction of $206,337.90. Following the transaction, the director now owns 1,444,313 shares of the company's stock, valued at $77,487,392.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Connor Kevin J. O sold 3,846 shares of Procore Technologies stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total transaction of $206,337.90. Following the sale, the director now directly owns 1,444,313 shares in the company, valued at $77,487,392.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 25,000 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $57.53, for a total transaction of $1,438,250.00. Following the completion of the transaction, the director now directly owns 1,380,078 shares in the company, valued at $79,395,887.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,419 shares of company stock worth $6,289,671 over the last quarter. Insiders own 29.00% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company's stock worth $25,000 after acquiring an additional 175 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies in the third quarter worth about $26,000. Signaturefd LLC raised its position in shares of Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company's stock valued at $42,000 after purchasing an additional 216 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock valued at $49,000 after buying an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Procore Technologies during the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 81.10% 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.