Procore Technologies (NYSE:PCOR) Releases Earnings Results, Misses Estimates By $0.02 EPS

Procore Technologies (NYSE:PCOR) issued its quarterly earnings results on Tuesday. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02), Briefing.com reports. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The business had revenue of $359.28 million for the quarter, compared to analysts’ expectations of $352.82 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year.

Here are the key takeaways from Procore Technologies’ conference call:

• Procore reported a strong Q1 beat with $359M revenue (+15.7% YoY), non-GAAP operating margin of 17% (650 bps YoY expansion), $56M free cash flow (+20% YoY), and raised FY26 revenue and margin guidance.
• Management said the Datagrid acquisition was rapidly integrated and showcased early commercial traction for Procore AI (agents for RFI/submittal analysis, contract review, voice pilot, event-driven workflows), with a small specialist sales overlay now and broader salesforce selling planned in Q3.
• Company expects modest gross margin headwinds from AI compute costs but forecasts these will be offset by AI-driven internal operating efficiencies (material leverage targeted in 2027), and reiterated a capital-allocation focus on organic growth, targeted M&A, and opportunistic buybacks.
• Flagship product momentum and customer expansions continue to drive cross-sell and international traction — Procore Scheduling adopted by >2,000 firms, major account expansions (TRINITY to $1.1B, Helm Group), new materials-management for specialty contractors, and a European CDE/BIM offering with early wins.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded down $1.60 during trading hours on Wednesday, hitting $53.09. 4,540,273 shares of the company’s stock were exchanged, compared to its average volume of 2,519,193. Procore Technologies has a 1-year low of $46.08 and a 1-year high of $82.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of -79.24 and a beta of 0.78. The company’s 50-day moving average price is $55.64 and its 200-day moving average price is $64.41.

Trending Headlines about Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Company reported revenue of $359.3M (up 15.7% YoY) and said Q1 performance exceeded the high end of guidance, enabling management to raise its full?year outlook — a key reason for investor confidence. Read More.
• Positive Sentiment: Analyst support remains constructive: BTIG reaffirmed a “buy” and $66 price target, while Piper Sandler kept an “overweight” rating despite trimming its target to $71 — both imply upside from current levels and can help stabilize the stock. Read More. Read More.
• Positive Sentiment: Market reaction included an earlier intraday rally after reports of narrower losses and appointment of an AI-focused board member, signaling investor enthusiasm around Procore’s AI strategy and margin progress. Read More.
• Neutral Sentiment: Revenue details: Q1 revenue beat consensus ($359.3M vs ~$352.8M), showing steady top?line growth — supports longer?term SaaS story but doesn’t fully remove near?term margin/earnings questions. Read More.
• Negative Sentiment: Earnings per share missed estimates: reported $0.34 vs. consensus $0.36, a small miss that investors penalized given the high expectations for margin improvement. Read More. Read More.
• Negative Sentiment: Near?term guidance is mixed: Q2 revenue was guided to roughly $364–$366M, slightly below the consensus midpoint, and EPS guidance details were light — this soft near?term outlook is weighing on the shares. Read More.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 9,615 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $54.48, for a total transaction of $523,825.20. Following the completion of the transaction, the director owned 1,012,136 shares of the company’s stock, valued at approximately $55,141,169.28. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $47.64, for a total value of $2,673,652.08. Following the transaction, the chairman directly owned 927,580 shares of the company’s stock, valued at $44,189,911.20. This represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 148,026 shares of company stock valued at $7,783,734. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies in the 3rd quarter valued at approximately $34,000. Danske Bank A S acquired a new position in Procore Technologies in the 3rd quarter valued at approximately $117,000. Los Angeles Capital Management LLC acquired a new position in Procore Technologies in the 4th quarter valued at approximately $134,000. Advisors Asset Management Inc. raised its holdings in Procore Technologies by 32.5% in the 4th quarter. Advisors Asset Management Inc. now owns 1,846 shares of the company’s stock valued at $134,000 after acquiring an additional 453 shares in the last quarter. Finally, Fiduciary Trust Co acquired a new position in Procore Technologies in the 3rd quarter valued at approximately $201,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PCOR. Zacks Research upgraded Procore Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. UBS Group reduced their price objective on Procore Technologies from $87.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Wall Street Zen cut Procore Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays reduced their price objective on Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Finally, BTIG Research reissued a “buy” rating and set a $66.00 price objective on shares of Procore Technologies in a research report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average price target of $73.25.

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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.