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

Procore Technologies (NYSE:PCOR) announced its quarterly earnings results on Thursday. The company reported ($0.35) 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 Trading Up 1.1 %

Shares of NYSE:PCOR traded up $0.84 during trading on Thursday, reaching $75.13. 2,167,823 shares of the company were exchanged, compared to its average volume of 1,119,663. The firm has a market capitalization of $11.17 billion, a PE ratio of -150.26 and a beta of 0.84. The business’s fifty day simple moving average is $77.73 and its 200-day simple moving average is $68.45. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $86.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Insider Transactions at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 2,668 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $76.77, for a total transaction of $492,095.70. Following the transaction, the director now directly owns 1,231,368 shares in the company, valued at approximately $94,532,121.36. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,656 shares of company stock valued at $8,776,297. 29.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PCOR has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler increased their price target on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Scotiabank increased their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $100.00 in a report on Monday, January 6th. Four equities research 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, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

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.