Procore Technologies (NYSE:PCOR) Shares Gap Down Following Weak Earnings

Shares of Procore Technologies, Inc. (NYSE:PCOR) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $62.10, but opened at $53.36. Procore Technologies shares last traded at $54.2820, with a volume of 666,855 shares changing hands.

The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $359.28 million during the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative return on equity of 2.23% and a negative net margin of 5.61%.The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share.

Key Stories Impacting Procore Technologies

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

• Positive Sentiment: Q1 results showed revenue above expectations and narrower losses; the company also appointed an AI-focused board member, events investors see as improving execution and AI credibility. Why Procore Technologies (PCOR) Is Up 11.6%…
• Positive Sentiment: Markets / media are highlighting Procore as a top cloud-computing pick for 2026, which can support investor interest and multiple expansion if sentiment persists. Procore Technologies (PCOR) Is One Of The Best Cloud Computing Stocks To Buy In 2026
• Positive Sentiment: Several sell?side firms still carry buy/overweight ratings and price targets implying 20–30%+ upside, signalling continued analyst conviction despite recent cuts (BTIG reaffirmed buy at $66). BTIG coverage
• Neutral Sentiment: In-depth coverage and analysis pieces (earnings-transcript, valuation pieces) are available for investors doing due diligence; these are informational rather than immediate catalysts. Q1 2026 earnings call transcript
• Neutral Sentiment: Market writeups questioning whether the pullback creates a buying opportunity—useful for longer?term investors assessing risk/reward but not a direct price catalyst. Is Procore Now Attractive After Recent Share Price Pullback?
• Negative Sentiment: Multiple firms trimmed price targets recently (UBS: $74?$68; Goldman Sachs: $80?$70; Piper Sandler: $79?$71). While ratings largely remain buy/overweight, lower targets reduce upside expectations and can cap near-term gains. Procore Given New $68.00 Price Target at UBS Group Goldman Sachs PT note
• Negative Sentiment: Q1 EPS narrowly missed consensus (0.34 vs. 0.36) and the company still reports negative margins — fundamentals that could pressure the stock if margin improvement stalls. Procore Beats Q1 Sales Expectations But Stock Drops
• Neutral Sentiment: Analyst comment roundups (Globe and Mail) synthesize views but do not introduce new catalysts. Analysts Offer Insights on Technology Companies

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCOR. Stifel Nicolaus lowered their price objective on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a report on Friday, February 13th. Barclays lowered their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, February 13th. TD Cowen lowered their price target on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Procore Technologies in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.56.

Insider Activity at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,225 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider directly owned 64,660 shares in the company, valued at $3,233,000. This represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 5,769 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $51.07, for a total transaction of $294,622.83. Following the sale, the director owned 990,983 shares of the company’s stock, valued at $50,609,501.81. This represents a 0.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 148,026 shares of company stock worth $7,783,734 in the last three months. 16.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in Procore Technologies by 23.6% in the 3rd quarter. Versant Capital Management Inc now owns 938 shares of the company’s stock worth $68,000 after purchasing an additional 179 shares in the last quarter. Argos Wealth Advisors LLC raised its holdings in Procore Technologies by 3.9% in the 1st quarter. Argos Wealth Advisors LLC now owns 5,154 shares of the company’s stock worth $294,000 after purchasing an additional 195 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Procore Technologies by 70.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares in the last quarter. Intellectus Partners LLC raised its holdings in Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock worth $912,000 after purchasing an additional 200 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Procore Technologies by 1.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,685 shares of the company’s stock worth $1,068,000 after purchasing an additional 202 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Price Performance

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 company’s fifty day simple moving average is $55.72 and its 200 day simple moving average is $64.29.

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.