Profile
Sector:
TechnologyIndustry:
Software ApplicationCountry:
United StatesIPO:
20 May 2021Website:
http://www.procore.comNext earnings report:
14 February 2025Last dividends:
N/ANext dividends:
N/APrice
after hours | Sat, 23 Nov 2024 00:51:42 GMTDividend
Analysts recommendations
Institutional Ownership
PCOR Latest News
Procore Technologies is a leading provider of cloud-based construction management software, with significant growth potential in the underpenetrated digital construction market. Procore's integrated platforms and focus on large customers provide competitive advantages, contributing to strong revenue growth and improved profitability. International expansion and sales team growth are key drivers, with a one-year target price of $82 per share and a 'Buy' rating.
Procore Technologies (PCOR) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Procore Technologies, Inc. (NYSE:PCOR ) Q3 2024 Earnings Call October 30, 2024 5:00 PM ET Company Participants Alexandra Geller - Head, Investor Relations Tooey Courtemanche - Founder, President and Chief Executive Officer Howard Fu - Chief Financial Officer Conference Call Participants DJ Hynes - Canaccord Joe Vruwink - Baird Luv Sodha - Jefferies Saket Kalia - Barclays Brent Bracelin - Piper Sandler Adam Borg - Stifel Dylan Becker - William Blair Jason Celino - KeyBanc Nick Altmann - Scotiabank Sameer Patel - Mizuho Operator Good evening, all and thank you all for attending the Procore Technologies Full Year ‘24 Third Quarter Earnings Call. My name is Brika, and I will be your moderator for today's call.
Procore Technologies (PCOR) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.09 per share a year ago.
I recommend a 'Buy' rating for Procore due to its robust revenue growth, expanding margins, and undervaluation relative to Autodesk. Procore's financials showcase rapid revenue growth, expanding gross margins, and strong cash generation, despite not yet achieving GAAP profitability. The company's valuation is attractive, with Procore trading at a lower EV/Revenue multiple than Autodesk.
Procore's growth has been impacted by rising interest rates, but a falling rate environment could boost user sentiment and increase software spending in the construction space. Procore probably has the broadest platform in the construction industry, and with new entries into payments, genAI, and a push into the channel, it has new unforecasted growth drivers. The company's sales force reorganization may cause short-term disruption, but it is expected to drive long-term growth and deeper customer engagement.
Procore recently announced strategic changes to their go-to-market operating model, which will impact revenue growth and operating margins in the near term. The company is focused on creating an operating model which will lead to stronger customer relationships, specifically in international markets. Despite short-term challenges, Procore's financial performance remains strong with revenue growth, high customer retention, and a solid balance sheet.
Procore Technologies, Inc. (NYSE:PCOR ) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Matthew Puljiz - SVP, Finance and Investor Relations Tooey Courtemanche - Founder, CEO , President & Chairman Howard Fu - CFO Conference Call Participants Dylan Becker - William Blair & Company Saket Kalia - Barclays Jason Celino - KeyBanc Capital Markets Alexei Gogolev - JPMorgan Nick Altmann - Scotiabank Robert Trout - Macquarie Brent Thill - Jefferies Andrew Sherman - TD Cowen Operator Good afternoon, everyone. I would like to thank you for attending the Procore Technologies' Full-Year 2024 Q2 Earnings Call.
Procore Technologies (PCOR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Procore Technologies is recommended as a buy due to its potential to gain market share in the digitizing construction industry. PCOR's cloud-native platform targets a large market with room for growth, especially as the industry transitions to digital solutions. PCOR's new payment module and unlimited user pricing model are expected to support its growth and increase platform stickiness.
What type of business is 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. The company also provides Workforce Management, that helps contractors to schedule, track, and forecast labor productivity, enhance time management, communication with workforces, and manage profitability on construction projects; Financial Management, which provides customers with visibility into the financial health of their individual construction projects and portfolios, as well as facilitates untethered access to financial data, linking the field, and the office in real-time; and Construction Intelligence, that allows customers to capture, manage, and learn from data for project and portfolio reporting, analytics, and artificial intelligence-guided workflows, as well as to monitor projects and drive informed decision-making for business needs. It serves owners, general contractors, and specialty contractors operating in the commercial, residential, industrial, and infrastructure segments of the construction industry. The company allow users to access its products on computers, smartphones, and tablets through any web browser or from its mobile application available for iOS and Android platforms through its direct sales team. Procore Technologies, Inc. was incorporated in 2002 and is headquartered in Carpinteria, California.
What sector is Procore Technologies in?
Procore Technologies is in the Technology sector
What industry is Procore Technologies in?
Procore Technologies is in the Software Application industry
What country is Procore Technologies from?
Procore Technologies is headquartered in United States
When did Procore Technologies go public?
Procore Technologies initial public offering (IPO) was on 20 May 2021
What is Procore Technologies website?
https://www.procore.com
Is Procore Technologies in the S&P 500?
No, Procore Technologies is not included in the S&P 500 index
Is Procore Technologies in the NASDAQ 100?
No, Procore Technologies is not included in the NASDAQ 100 index
Is Procore Technologies in the Dow Jones?
No, Procore Technologies is not included in the Dow Jones index
When was Procore Technologies the previous earnings report?
No data
When does Procore Technologies earnings report?
The next expected earnings date for Procore Technologies is 14 February 2025