Q2 2024 Earnings Forecast for Procore Technologies, Inc. (NYSE:PCOR) Issued By DA Davidson

Procore Technologies, Inc. (NYSE:PCOR) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Procore Technologies in a research note issued on Thursday, May 2nd. DA Davidson analyst G. Luria forecasts that the company will post earnings of ($0.10) per share for the quarter. DA Davidson has a “Buy” rating and a $95.00 price objective on the stock. The consensus estimate for Procore Technologies’ current full-year earnings is ($0.62) per share. DA Davidson also issued estimates for Procore Technologies’ FY2024 earnings at ($0.48) EPS and FY2025 earnings at ($0.26) EPS.

Several other research analysts have also weighed in on PCOR. Mizuho lowered their price objective on Procore Technologies from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays dropped their price target on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Piper Sandler reduced their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. BMO Capital Markets cut their target price on shares of Procore Technologies from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Finally, KeyCorp lifted their price target on shares of Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.79.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $68.45 on Monday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $10.02 billion, a PE ratio of -71.57 and a beta of 0.78. The firm has a fifty day simple moving average of $76.12 and a 200 day simple moving average of $68.96. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The firm had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million.

Institutional Trading of Procore Technologies

Several hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in Procore Technologies by 4,290.2% in the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock worth $92,353,000 after acquiring an additional 1,303,804 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Procore Technologies by 13.2% in the third quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock worth $557,746,000 after purchasing an additional 995,757 shares in the last quarter. Norges Bank bought a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $68,005,000. Robeco Schweiz AG purchased a new stake in shares of Procore Technologies during the 4th quarter valued at approximately $60,914,000. Finally, Westfield Capital Management Co. LP bought a new position in Procore Technologies in the 4th quarter worth approximately $60,295,000. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the transaction, the senior vice president now directly owns 77,768 shares in the company, valued at $5,747,055.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now directly owns 77,768 shares of the company’s stock, valued at $5,747,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 3,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $82.15, for a total value of $246,450.00. Following the completion of the transaction, the insider now directly owns 125,321 shares in the company, valued at approximately $10,295,120.15. The disclosure for this sale can be found here. In the last three months, insiders sold 528,416 shares of company stock valued at $40,771,132. 39.20% of the stock is owned by insiders.

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.