Procore Technologies (NYSE:PCOR) Announces Quarterly Earnings Results

Procore Technologies (NYSE:PCOR) posted its earnings results on Tuesday. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02), Briefing.com reports. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. During the same quarter last year, the business earned $0.23 earnings per share. Procore Technologies’s quarterly revenue was up 15.7% on a year-over-year basis.

Here are the key takeaways from Procore Technologies’ conference call:

• Procore reported a strong Q1 beat with $359M revenue (+15.7% YoY), non-GAAP operating margin of 17% (650 bps YoY expansion), $56M free cash flow (+20% YoY), and raised FY26 revenue and margin guidance.
• Management said the Datagrid acquisition was rapidly integrated and showcased early commercial traction for Procore AI (agents for RFI/submittal analysis, contract review, voice pilot, event-driven workflows), with a small specialist sales overlay now and broader salesforce selling planned in Q3.
• Company expects modest gross margin headwinds from AI compute costs but forecasts these will be offset by AI-driven internal operating efficiencies (material leverage targeted in 2027), and reiterated a capital-allocation focus on organic growth, targeted M&A, and opportunistic buybacks.
• Flagship product momentum and customer expansions continue to drive cross-sell and international traction — Procore Scheduling adopted by >2,000 firms, major account expansions (TRINITY to $1.1B, Helm Group), new materials-management for specialty contractors, and a European CDE/BIM offering with early wins.

Procore Technologies Stock Performance

PCOR traded down $1.60 during midday trading on Wednesday, reaching $53.09. The company’s stock had a trading volume of 4,540,289 shares, compared to its average volume of 2,519,193. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $55.64 and a 200 day simple moving average of $64.41. The stock has a market cap of $8.01 billion, a P/E ratio of -79.24 and a beta of 0.78. Procore Technologies has a twelve month low of $46.08 and a twelve month high of $82.32.

Procore Technologies News Roundup

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

• Positive Sentiment: Company reported revenue of $359.3M (up 15.7% YoY) and said Q1 performance exceeded the high end of guidance, enabling management to raise its full‑year outlook — a key reason for investor confidence. Read More.
• Positive Sentiment: Analyst support remains constructive: BTIG reaffirmed a “buy” and $66 price target, while Piper Sandler kept an “overweight” rating despite trimming its target to $71 — both imply upside from current levels and can help stabilize the stock. Read More. Read More.
• Positive Sentiment: Market reaction included an earlier intraday rally after reports of narrower losses and appointment of an AI-focused board member, signaling investor enthusiasm around Procore’s AI strategy and margin progress. Read More.
• Neutral Sentiment: Revenue details: Q1 revenue beat consensus ($359.3M vs ~$352.8M), showing steady top‑line growth — supports longer‑term SaaS story but doesn’t fully remove near‑term margin/earnings questions. Read More.
• Negative Sentiment: Earnings per share missed estimates: reported $0.34 vs. consensus $0.36, a small miss that investors penalized given the high expectations for margin improvement. Read More. Read More.
• Negative Sentiment: Near‑term guidance is mixed: Q2 revenue was guided to roughly $364–$366M, slightly below the consensus midpoint, and EPS guidance details were light — this soft near‑term outlook is weighing on the shares. Read More.

Insider Activity

In related news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $47.64, for a total transaction of $2,673,652.08. Following the completion of the transaction, the chairman directly owned 927,580 shares in the company, valued at $44,189,911.20. This represents a 5.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 5,769 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $51.07, for a total transaction of $294,622.83. Following the completion of the sale, the director directly owned 990,983 shares of the company’s stock, valued at approximately $50,609,501.81. This trade represents a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 148,026 shares of company stock valued at $7,783,734. 16.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently made changes to their positions in PCOR. Wilmington Savings Fund Society FSB bought a new position in Procore Technologies during the third quarter valued at about $34,000. Danske Bank A S bought a new stake in shares of Procore Technologies in the 3rd quarter worth approximately $117,000. Advisors Asset Management Inc. grew its holdings in shares of Procore Technologies by 32.5% during the 4th quarter. Advisors Asset Management Inc. now owns 1,846 shares of the company’s stock worth $134,000 after purchasing an additional 453 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Procore Technologies during the 4th quarter worth approximately $134,000. Finally, Fiduciary Trust Co acquired a new stake in shares of Procore Technologies during the 3rd quarter worth approximately $201,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen lowered Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group decreased their target price on Procore Technologies from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, February 9th. KeyCorp lowered their price target on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Barclays dropped their price target on shares of Procore Technologies from $90.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, DA Davidson reduced their price objective on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.25.

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.