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

Procore Technologies, Inc. (NYSE:PCOR) – Equities researchers at DA Davidson issued their Q2 2024 EPS estimates for Procore Technologies in a report issued on Thursday, May 2nd. DA Davidson analyst G. Luria forecasts that the company will earn ($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.

PCOR has been the topic of a number of other reports. Piper Sandler dropped their price target on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. KeyCorp upped their target price on Procore Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. BMO Capital Markets reduced their price target on Procore Technologies from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Mizuho dropped their price objective on Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Procore Technologies from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Three equities 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, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $81.79.

Procore Technologies Price Performance

NYSE PCOR opened at $68.45 on Monday. The company has a 50 day simple moving average of $76.12 and a 200-day simple moving average of $68.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of -71.57 and a beta of 0.78. Procore Technologies has a 52-week low of $48.11 and a 52-week high of $83.35.

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

Institutional Investors Weigh In On Procore Technologies

Large investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new stake in Procore Technologies in the third quarter valued at $36,000. International Assets Investment Management LLC boosted its stake in shares of Procore Technologies by 6,823.1% in the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $62,000 after purchasing an additional 887 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Procore Technologies during the 4th quarter worth about $62,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Procore Technologies by 30.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its position in Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after buying an additional 2,180 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Procore Technologies news, insider Benjamin C. Singer sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $75.00, for a total value of $600,000.00. Following the transaction, the insider now directly owns 116,318 shares of the company’s stock, valued at approximately $8,723,850. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of Procore Technologies stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the sale, the chief executive officer now directly owns 530,049 shares in the company, valued at approximately $36,557,479.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Benjamin C. Singer sold 8,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the completion of the transaction, the insider now directly owns 116,318 shares of the company’s stock, valued at approximately $8,723,850. The disclosure for this sale can be found here. Insiders have sold a total of 528,416 shares of company stock valued at $40,771,132 in the last three months. Company insiders own 39.20% of the company’s stock.

Procore Technologies Company Profile

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.