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

Procore Technologies (NYSE:PCOR) posted its earnings results on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Price Performance

NYSE:PCOR opened at $87.48 on Friday. The stock has a market cap of $13.01 billion, a P/E ratio of -174.96 and a beta of 0.84. The company has a fifty day moving average price of $77.63 and a 200 day moving average price of $68.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies has a one year low of $49.46 and a one year high of $87.90.

Insider Activity

In other news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $76.77, for a total value of $492,095.70. Following the transaction, the director now directly owns 1,231,368 shares of the company’s stock, valued at $94,532,121.36. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the transaction, the insider now owns 84,539 shares in the company, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,656 shares of company stock worth $8,776,297 over the last quarter. 29.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus boosted their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $100.00 in a report on Monday, January 6th. TD Cowen boosted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Robert W. Baird boosted their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Four investment 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. Based on data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

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.