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

Procore Technologies (NYSE:PCOR) posted 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. 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

PCOR opened at $80.38 on Friday. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The firm has a market capitalization of $11.95 billion, a P/E ratio of -160.77 and a beta of 0.84. The stock’s 50 day moving average price is $77.54 and its two-hundred day moving average price is $68.50. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the transaction, the director now owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. This represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction that occurred 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 owns 84,539 shares in the company, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,656 shares of company stock worth $8,776,297. Insiders own 29.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCOR. Piper Sandler increased their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets upped their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $100.00 in a report on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of Procore Technologies in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their price objective on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.