Procore Technologies (NYSE:PCOR) Shares Gap Up Following Better-Than-Expected Earnings

Procore Technologies, Inc. (NYSE:PCOR) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $50.16, but opened at $56.00. Procore Technologies shares last traded at $50.3510, with a volume of 754,686 shares traded.

The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $375.21 million during the quarter, compared to the consensus estimate of $365.82 million. Procore Technologies had a negative return on equity of 2.24% and a negative net margin of 5.61%.The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share.

Trending Headlines about Procore Technologies

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

• Positive Sentiment: Q2 earnings and revenue beat estimates: Procore reported adjusted earnings of $0.47 per share, above the $0.41 consensus estimate, while revenue rose 15.8% year over year to approximately $375.2 million, exceeding expectations. The company also generated $87.9 million in operating cash flow, up sharply from a year earlier. Procore Announces Second Quarter 2026 Financial Results
• Positive Sentiment: DroneDeploy acquisition expands Procore’s platform: Procore agreed to acquire DroneDeploy for approximately $845 million in cash. DroneDeploy’s visual intelligence and robotics technology is used across more than 3 million jobsites in over 180 countries, potentially strengthening Procore’s artificial-intelligence and jobsite-monitoring capabilities. Procore to Acquire DroneDeploy
• Positive Sentiment: Analyst sentiment remains constructive: Recent coverage includes buy or overweight ratings, with reported price targets generally ranging from the low $60s to $75, above the stock’s recent trading level. Analysts Offer Insights on Procore Technologies
• Neutral Sentiment: Third-quarter outlook was broadly in line: Procore forecast revenue of $382 million to $384 million, compared with the $382.6 million consensus estimate. The absence of a sizable guidance raise may limit additional upside after the earnings beat.
• Negative Sentiment: Acquisition creates execution and cash-use risks: The $845 million all-cash DroneDeploy purchase is sizable relative to Procore’s approximately $494 million in cash and equivalents, potentially requiring financing or substantially reducing liquidity. Investors may also remain concerned about slowing growth, AI-related disruption, and continued insider selling.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCOR. The Goldman Sachs Group cut their price target on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Barclays decreased their price objective on Procore Technologies from $65.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Piper Sandler lowered their target price on Procore Technologies from $79.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Guggenheim initiated coverage on Procore Technologies in a report on Thursday, July 23rd. They set a “buy” rating and a $68.00 target price on the stock. Finally, UBS Group reduced their price target on Procore Technologies from $74.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.59.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,769 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $41.93, for a total value of $241,894.17. Following the transaction, the director owned 967,901 shares in the company, valued at $40,584,088.93. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $43.90, for a total transaction of $2,463,755.80. Following the sale, the chairman directly owned 919,704 shares in the company, valued at $40,375,005.60. This trade represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 189,621 shares of company stock worth $8,791,847 over the last three months. 16.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SJS Investment Consulting Inc. boosted its position in shares of Procore Technologies by 7,100.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 432 shares of the company’s stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Procore Technologies in the third quarter valued at approximately $34,000. V Square Quantitative Management LLC acquired a new position in Procore Technologies in the fourth quarter valued at approximately $41,000. Allworth Financial LP boosted its holdings in shares of Procore Technologies by 48.2% during the 4th quarter. Allworth Financial LP now owns 627 shares of the company’s stock worth $46,000 after buying an additional 204 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Procore Technologies during the 4th quarter worth approximately $54,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Trading Up 1.8%

The firm’s 50-day moving average price is $44.55 and its 200 day moving average price is $52.02. The company has a market cap of $7.71 billion, a price-to-earnings ratio of -100.14 and a beta of 0.75. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.02.

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. 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.