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

Procore Technologies (NYSE:PCOR - Get Free Report) announced its quarterly 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. The company had revenue of $302.05 million during the quarter, compared to analysts' expectations of $297.72 million. 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 Performance

Shares of NYSE PCOR traded up $12.38 during mid-day trading on Monday, hitting $87.48. 4,580,396 shares of the company were exchanged, compared to its average volume of 993,712. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $77.72 and a 200-day simple moving average of $68.73. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $87.90. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of -174.96 and a beta of 0.84.

Analyst Upgrades and Downgrades

Several brokerages have commented on PCOR. UBS Group increased their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday. TD Cowen increased their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Robert W. Baird increased their price target on shares of Procore Technologies from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. KeyCorp increased their price objective on Procore Technologies from $85.00 to $96.00 and gave the company an "overweight" rating in a report on Friday. Finally, Scotiabank increased their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a "sector outperform" rating in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.65.

Insider Buying and Selling

In other Procore Technologies news, 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 completion of the sale, the senior vice president now owns 72,605 shares of the company's stock, valued at approximately $5,181,092.80. This trade represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares of the company's stock, valued at approximately $6,440,181.02. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,656 shares of company stock valued at $8,776,297 over the last three months. 29.00% of the stock is currently owned by company 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.