We are home to 75% of all U.S. tech proceeds raised, with companies including Uber, Twitter, Slack and Spotify. You can sign up for additional alert options at any time. Procore Technologies had a negative trailing twelve-month return on equity of 20.64% and a negative net margin of 39.84%. Get practical advice from speakers at Suffolk Construction, Commodore Builders, and Ryan Companies. Procore Technologies stock price target cut to $95 from $113 at J.P. Morgan. How can I listen to Procore Technologies' earnings call? As part of the offering, Doximity reserved 15% of the. The company is also home to more than 1.6 million users around the globe with more than $1 trillion of construction volume run on the platform. The construction industry is in the early stages of massive digital transformation. But Procore is not the only company that filed and later put on hold an IPO to get back to work on floating. 2021 IPO Procore Technologies Stock Cloud-Based Construction Management Software Founded 2002 Notable Investors Bessemer Venture Partners Headquarters Carpinteria CA, US Total Funding $708M About Procore Technologies Stock If you experience any issues with this process, please contact us for further assistance. The company provided EPS guidance of for the period. This is due to data indicating the construction industry has begun to recover from the pandemic and the overall size of . InvestorPlace - Stock Market News, Stock Advice & Trading Tips. We partner with schools and trade unions. Subscriber Agreement & Terms of Use | As investors have seen with the recent decline of previously hot IPOs like Airbnb(ABNB 1.33%), Poshmark (POSH), Coupang (CPNG 1.31%), and many others, it can pay to be patient and buy-in at a lower price point. "As there started to be more clarity and we started to see the world come back, we went back to our original premise of why we were going public.". All rights reserved. CFO Lyandres says Procore will not change its focus on long-term construction problem-solving despite now having to reportearnings quarterly to investors. 326 E 8th St #105, Sioux Falls, SD 57103 However, the IPO is now on the table again, after a new S-1/A filing in March 2021, with updates in April and May. The company's average rating score is 2.79, and is based on 11 buy ratings, 3 hold ratings, and no sell ratings. The company sold 9.47. By Brian Feinstein 5.17.21 VERTICAL SOFTWARE. Written by Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Although Procore didn't hit its intended 2020 IPO date, the yearlong delay may . By providing your email address below, you are providing consent to Procore to send you the requested Investor Email Alert updates. Procore Technologies Inc., a cloud-based construction software company, priced its shares in an initial public offering above a marketed range to raise $634.5 million. Visit a quote page and your recently viewed tickers will be displayed here. In this webinar, you'll hear real project stories and proven data analytics strategies using real-time dashboards and reports that continuously improve how they build, operate and compete. However, on the first day of trading, demand exceeded expectations and sent the shares up as much as 37% at their high point. One technology partner that shares reality-capture photo and video data of construction sites through the Procore platform is StructionSite. 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That's nearly double the valuation of its closest competitor, Autodesk (ADSK 1.25%), which trades at a multiple of 16. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, 3 Dividend Stocks with a Yield Above 5% That Are on Sale Now, Charles Schwab's Recovery Just Shifted Gears, Digital Realty Offers Growth and Income with a Wide Moat, These 2 Fabless Chip Stocks Are Among The Market's Top Performers, Why State Street Stock Is Sliding After Announcing Earnings, The Top 2 Chip Stocks Going Into Earnings Season, Here are 2 Top Drug Makers Leading the Way in Weight Loss Drugs, Why Restaurant Stocks are the Stocks to Buy Right Now, SVP, Corp. However, there's nuance to this estimate. We promise to treat your data with respect and will not share your information with any third party. Technology is just one of the things that it needs to help push it to the next stage and next generation.". You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The technology startup and its. Copyright 2023. Interested parties can register for or listen to the call using this link. That gives Procore, which was valued at $5 billion in a private funding. . Losses were -$286.93 million, 8.21% more than in 2021. Join These Motley Fool Investors for "The Market Cap Game Show", Benzinga's Top Ratings Upgrades, Downgrades For March 22, 2023, Chief Data Officer of Procore Technologies Makes $447K Sale, Insiders Selling American Airlines, Costco Wholesale And 2 Other Stocks, 2 Supercharged Tech Stocks to Buy Without Any Hesitation, Analyst Expectations for Procore Technologies's Future, 12 Information Technology Stocks Moving In Monday's Pre-Market Session, 12 Information Technology Stocks Moving In Friday's Pre-Market Session, JMP Securities Sticks to Its Buy Rating for Procore Technologies (PCOR), Procore Technologies (PCOR) Receives a Buy from Oppenheimer, Procore Technologies (PCOR) Reports Q4 Loss, Tops Revenue Estimates, Earnings Outlook For Procore Technologies. You must click the activation link in order to complete your subscription. Goldman Sachs and J.P. Morgan are acting as joint lead book-running managers for the proposed offering. Worthless Degrees Are Creating an Unemployable Generation in India, ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines, How a Surge of Sargassum Seaweed Is Changing the Beach Vacation, First Republic Worked Hard to Woo Rich Clients. Procore Announces Initial Public Offering; Breaking Ground on the New York Stock Exchange. Price as of April 17, 2023, 10:00 a.m. In 2020 alone, Procore generated $400 million in revenue, a 256% increase from three years prior. Procore has set an IPO date of May 20 2021. The New York Stock Exchange is the premier venue for global capital raising, and the exchange of choice for issuers. This loss is down from a $19 million a year prior. All Rights Reserved BNP Media. Shares of PCOR are currently trading more than 27% higher at the time of writing on impressive investor demand. The Procore platform connects every project stakeholder to solutions we've built specifically for the construction industryfor the owner, the general contractor, and the specialty contractor. CARPINTERIA, Calif., May 24, 2021 - Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced the closing of its initial public offering of 10,410,000 shares of its common stock, including the full exercise by the underwriters of their option to purchase 940,000 additional shares of common Procore Announces Timing of Fourth Quarter and Full Year 2022 Earnings Call, BZI Steel Selects Procore's Construction Management Platform to Build Many of the World's Largest Projects. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. In conjunction with this announcement, Procore will host a conference call on Wednesday, May 3, 2023 at 2:00 p.m. Pacific Time to discuss Procore's financial results and financial guidance. Procore Technologies updated its first quarter 2023 earnings guidance on Monday, February, 20th. After the IPO, Procore would have a total of 128 million outstanding shares, meaning about 7.5% of its shares will be offered to the public. The offering was made only by means of a prospectus. View PCOR analyst ratings or view top-rated stocks. 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 Management, 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. Procore Technologies (PCOR) Soars 5.9%: Is Further Upside Left in the Stock? There are currently 3 hold ratings and 11 buy ratings for the stock. Learn More. Procores platform connects key project stakeholders to solutions Procore has built specifically for the construction industryfor the owner, the general contractor, and the specialty contractor. Get daily stock ideas from top-performing Wall Street analysts. Procore sold 9.4 million shares at. Employees 3,568. Take control of construction outcomes, minimize risk, and protect profits with Procore's top-rated construction management platform. Procore Technologies (PCOR) delivered earnings and revenue surprises of 42.86% and 6.20%, respectively, for the quarter ended December 2022. This industry is complex, it's difficult. Instead, it closed a $150 million funding round that valued the company at $5 billion. Procore Technologies (NYSE:PCOR) has a market capitalization of $7.45 billion and generates $720.20 million in revenue each year. Insiders that own company stock include Benjamin C Singer, Bessemer Venture Partners Viii, Connor Kevin J O, Craig F Jr Courtemanche, Dennis Lyandres, Graham Smith, Iconiq Strategic Partners Vi,, Joy Driscoll Durling, Patricia L Wadors, Paul Lyandres, Sam Crigman, William Fred Fleming Jr, William Fred Fleming, Jr and William JG Griffith. By visiting this website, certain cookies have already been set, which you may delete and block. Compare Top Brokerages Here. It Was the Banks Undoing, BlackRock Ditches60/40 Portfolio in New Regime of High Inflation. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Procore Technologies, Inc. using our online tools. This is where Procore comes in. High institutional ownership can be a signal of strong market trust in this company. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. 2023 Stock Analysis. Get short term trading ideas from the MarketBeat Idea Engine. Procore was recently given a potential price in the $60 to $65 range for its IPO. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. The. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Ticker Symbol PCOR . Plus500. Learn more. The company offers freight listing, matching, and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, electronic toll collection, and energy services. . SaaSProcore Technologies8000 PROCORE400 How were Procore Technologies' earnings last quarter? To make the world smarter, happier, and richer. Find the latest Procore Technologies, Inc. (PCOR) stock quote, history, news and other vital information to help you with your stock trading and investing. While there's certainly a lot to like about the business, it's probably best to wait on the sidelines for the time being. Do the numbers hold clues to what lies ahead for the stock? Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., and Jefferies LLC acted as lead book-running managers for the proposed offering. "It's always just a question of how do we partner with folks to solve the most sets of problems?" The company has a market cap of $7.45 billion, a P/E ratio of -25.30 and a beta of 0.58. . View our PCOR earnings forecast. According to analysts' consensus price target of $72.23, Procore Technologies has a forecasted upside of 35.9% from its current price of $53.14. Procore Technologies' stock is owned by a variety of retail and institutional investors. Starting with Procore's $9.6 billion, fully diluted valuation that it set in its IPO pricing, the company is richly valued. How would you describe staffing levels at your firm currently? The company initially marketed stock . Stock Exchange NYSE. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. VP, Chief Information & Data Officer. Bear market expert makes new prediction (Ad). Procore builds the software for people who build the world. Procore's new price. Cost basis and return based on previous market day close. Procore Announces Timing of First Quarter Fiscal Year 2023 Earnings Call, IntelliShift Announces Procore Partnership, Procore Launches Construction Insurance Brokerage to Empower Builders, Procore Appoints Sarah Hodges as Chief Marketing Officer, Procore Technologies (PCOR) Reports Q4 Loss, Tops Revenue Estimates, Procore Announces Fourth Quarter and Full Year 2022 Financial Results, Five Elms Celebrates Prestigious Recognition. ETFs with the largest weight of Procore Technologies (NYSE:PCOR) stock in their portfolio include WisdomTree Cloud Computing Fund (WCLD), Global X Founder-Run Companies ETF (BOSS), Renaissance IPO ETF (IPO), Goldman Sachs Future Tech Leaders Equity ETF (GTEK), WisdomTree Artificial Intelligence and Innovation Fund (WTAI), Nuveen Global Net Zero Transition ETF (NTZG), Harbor Disruptive Innovation ETF (INNO) and SPDRS&PSoftware & Services ETF (XSW). While the effectiveness of this highly sought-after metric is questionabl CARPINTERIA, Calif.--(BUSINESS WIRE)--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced the release of its 2022 Environmental, S Tooey Courtemanche, Procore CEO, joins 'TechCheck' to discuss what customers are demanding that's different now, whether Procore has been pressured to move to a consumption-based model and more. Currently, Procore estimates its total addressable market at roughly $9.4 billion per year. A high percentage of insider ownership can be a sign of company health. Listed under the ticker symbol PCOR, the stock outperformed itstarget and ended the trading day at $88 per share, giving the company a market valueof more than $8.5 billion based on outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. The company earns $-286,930,000.00 in net income (profit) each year or ($2.10) on an earnings per share basis. 16, 2022 at 7:14 a.m. Procore Technologies trades on the New York Stock Exchange (NYSE) under the ticker symbol "PCOR.". Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The IRS Is Urging Millions of Early Filers to Amend Their Tax Return, 1 Warren Buffett Index Fund Could Turn $100 Per Week into $1 Million, 2 Stocks That Could Join Apple, Microsoft, Amazon, and Alphabet in the $1 Trillion Club, Prediction: These Will Be 3 of the Biggest Monster Stocks of the Decade, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. The P/E ratio of Procore Technologies is -25.30, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. This suggests a possible upside of 35.9% from the stock's current price. Privacy Notice | These different stakeholders are also operating from both the office and the job site simultaneously, so they require a central destination to store files and collaborate. Ever since Procore launched in 2002, there's been one major . Today Procore trades on the New York Stock Exchange under the ticker PCOR. Oatly Group and Procore Technologies made their debuts as public companies Thursday. There are currently no items in this Watchlist. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. "This [IPO]is a great thing for that.". The post PCOR Stock IPO: 8 Things to Know as Procore Technologies Starts Trading appeared first on InvestorPlace. By visiting this website, certain cookies have already been set, which you may delete and block. Now sporting a $10.9 billion market cap, the company trades at a price-to-trailing-12-month-revenue of about 28 times. Procore sold 9.4 million shares at this level to raise approximately $635 million. Here are similar public companies: Blade (NASDAQ: BLDE), Fast Radius (NASDAQ: FSRD), Joby Aviation (NYSE: JOBY), Procore Technologies (NYSE: PCOR), Rocket Lab (NASDAQ: RKLB). Intraday data delayed at least 15 minutes or per exchange requirements. Procore Technologies does not have a long track record of dividend growth. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Making the world smarter, happier, and richer. Something went wrong while loading Watchlist. Top institutional shareholders include National Bank of Canada FI (0.10%), Sycomore Asset Management (0.03%), Renaissance Capital LLC (0.02%), Northside Capital Management LLC (0.01%), Dfpg Investments LLC (0.01%) and Diversified Trust Co (0.00%). He is a two-time Jesse H. Neal award winner and multiple ASBPE winner for his tech coverage. Expected IPO timeline: 2023. What impact does your firm expect from future IIJA funding? If you experience any issues with this process, please contact us for further assistance. Tooey's path into entrepreneurship was unorthodox. We're on a mission to connect everyone in construction on a global platform. CARPINTERIA, Calif.--(BUSINESS WIRE. To . "When we paused last year, we wanted to make sure that our employees were safe, that we could lean in and support the [construction]industry, help it work through and navigate what was going to be a very uncertain time," Procore CFO Paul Lyandres said during a phone interview with ENR shortly after trading opened. The Carpinteria, Calif.-based company had filed for an IPO in early 2020 but postponed the effort due to the COVID-19 pandemic before re-filing a year later. How do I buy shares of Procore Technologies? In addition, the underwriters have been granted a 30-day option to purchase up to an additional 2,867,647 shares of common stock at the initial public offering price, less the underwriting . Copyright 2023 MarketWatch, Inc. All rights reserved. The offering is expected to close on Monday. says Lyandres. Jun. In addition, Procore has granted the underwriters a 30-day option to purchase up to an additional 940,000 shares of common stock at the initial public offering . 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