DA Davidson Has Pessimistic Outlook of PCOR FY2025 Earnings

Procore Technologies, Inc. (NYSE:PCOR) – Equities researchers at DA Davidson reduced their FY2025 earnings per share estimates for shares of Procore Technologies in a research note issued on Tuesday, April 15th. DA Davidson analyst G. Luria now expects that the company will earn ($0.11) per share for the year, down from their prior forecast of ($0.08). DA Davidson has a “Neutral” rating and a $60.00 price objective on the stock. The consensus estimate for Procore Technologies’ current full-year earnings is ($0.15) per share. DA Davidson also issued estimates for Procore Technologies’ FY2026 earnings at ($0.03) EPS.

Other equities research analysts also recently issued research reports about the company. Mizuho reduced their price target on Procore Technologies from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on Procore Technologies from $97.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. KeyCorp upped their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Piper Sandler raised their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Barclays cut their price target on shares of Procore Technologies from $90.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.88.

Procore Technologies Stock Down 2.5 %

Shares of PCOR opened at $58.37 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $88.92. The firm’s 50 day moving average is $70.32 and its 200-day moving average is $72.13. The stock has a market capitalization of $8.75 billion, a PE ratio of -81.06 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million.

Institutional Trading of Procore Technologies

A number of institutional investors have recently made changes to their positions in PCOR. Versant Capital Management Inc increased its stake in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank grew its stake in shares of Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Procore Technologies during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other news, CFO Howard Fu sold 1,190 shares of Procore Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.00, for a total value of $79,730.00. Following the transaction, the chief financial officer now owns 146,160 shares in the company, valued at approximately $9,792,720. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,982 shares of company stock worth $5,069,759. Insiders own 29.00% 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.