Procore Technologies Inc is a cloud-based construction management software company. "This [IPO]is a great thing for that.". Employees 3,568. PTEC has a total of 37 holdings and holds stocks. Controller & Principal Accounting Officer, Exec. Reuters->. Get short term trading ideas from the MarketBeat Idea Engine. Derek Francis for The company will list its stock on the New York Stock Exchange under the symbol "PCOR" and will begin trading on Thursday. All rights reserved. The company sold 9.47. 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. Oatly, the first to open, saw its shares rise nearly 19%, while Procore's stock gained 31.3%. Press Contact press@procore.com Subscriber Agreement & Terms of Use | Something went wrong while loading Watchlist. Thanks to the proliferation of mobile devices like smartphones and tablets, team members are now able to stay connected without having to go to and from the office. Goldman Sachs and Tiger Management Corporation are the most recent investors. *Average returns of all recommendations since inception. Procore's new price. The company employs 3,568 workers across the globe. An admittedly audacious goal. Stock Exchange NYSE. Now sporting a $10.9 billion market cap, the company trades at a price-to-trailing-12-month-revenue of about 28 times. It now serves more than 10,000 business customers globally and helps speed up project times by bringing the industry into the modern age. Its IPO Gained 31%. The company also provides Resource Management that helps contractors to schedule, track, and forecast labor productivity, enhance time management, communication with workforces, and manage profitability on construction projects; and 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. He also wrote about materials prices, construction procurement and estimation for MetalMiner.com. Shares of PCOR are currently trading more than 27% higher at the time of writing on impressive investor demand. The company earns $-286,930,000.00 in net income (profit) each year or ($2.10) on an earnings per share basis. Procore on May 10 sought an $8 billion valuation by offering shares priced between $60 and $65 each, after it had delayed the IPO by a year due to choppy market conditions stemming from the pandemic. The New York Times Reports: "No existing defense can stop it." 14 Wall Street research analysts have issued 12-month price targets for Procore Technologies' shares. See Pricing See It in Action "Procore is the only platform that could have handled this project." Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Who are Procore Technologies' major shareholders? Procore Technologies (PCOR) JMP Securities analyst Joe Goodwin maintained a Buy rating on Procore Technologies today and set a price target of $75.00. 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. That's nearly double the valuation of its closest competitor, Autodesk (ADSK 1.25%), which trades at a multiple of 16. The Motley Fool recommends Coupang, Inc. Sign-up to receive the latest news and ratings for Procore Technologies and its competitors with MarketBeat's FREE daily newsletter. The official website for the company is www.procore.com. All rights reserved. Procore Technologies had a negative trailing twelve-month return on equity of 20.64% and a negative net margin of 39.84%. . The company initially filed to go public in 2019, with plans to launch the IPO in 2020, but delayed the offering due to the coronavirus pandemic. The firm purchased 5,006 shares of the company's stock, valued at approximately $236,000. The construction industry is in the early stages of massive digital transformation. They also acknowledged the still daunting task of connecting so many still disparate systems to better manage information and move construction forward. The company sold 9.47 million shares for $67 each, according to a press release Thursday. "Harnessing that information into intelligent dashboards and predictive analytics helped us pinpoint and support projects that were in crisis rather than supporting all our projects in the same way through COVID-19," Ernst said in a statement. Procore's IPO price range has been set at between $60 to $65 per share. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. 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 The company has a market capitalization of $7.45 billion, a PE ratio of -25.30 and a beta of 0.58. Canaccord Genuity LLC, KeyBanc Capital Markets Inc., Oppenheimer & Co. Inc., Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated, and William Blair & Company, L.L.C. And one small company is building them for the Pentagon! Disgruntled Franchisee's Push McDonald's To Pursue Cost Cuts, Healthcare Innovation Drives Medical Device Makers To New Highs, JMP Securities Reiterates Procore Technologies (PCOR) Market Outperform Recommendation, Mizuho Maintains Procore Technologies (PCOR) Buy Recommendation, [BREAKING] New "Living Missile" to Replace Nuclear Missiles, Mizuho Cuts Procore Technologies (NYSE:PCOR) Price Target to $75.00, Procore Announces Timing of First Quarter Fiscal Year 2023 Earnings Call, Connor Kevin J. O Sells 5,128 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock, Procore Technologies, Inc. (NYSE:PCOR) Director Connor Kevin J. O Sells 5,128 Shares, Procore Technologies (NYSE:PCOR) Shares Down 4.1% After Insider Selling, Craig F. Jr. Courtemanche Sells 24,209 Shares of Procore Technologies, Inc. (NYSE:PCOR) Stock, Analysts Set Procore Technologies, Inc. (NYSE:PCOR) Price Target at $72.62, Q1 2023 Earnings Forecast for Procore Technologies, Inc. (NYSE:PCOR) Issued By DA Davidson, Head-To-Head Review: Procore Technologies (NYSE:PCOR) & Dynatrace (NYSE:DT), DA Davidson Initiates Coverage of Procore Technologies (PCOR) with Buy Recommendation, Procore Technologies (NYSE:PCOR) Earns Buy Rating from Analysts at DA Davidson, Procore Launches Construction Insurance Brokerage to Empower Builders, Institutional owners may ignore Procore Technologies, Inc.'s (NYSE:PCOR) recent US$756m market cap decline as longer-term profits stay in the green, IBD 50 Stocks To Watch: Software Leader Procore Technologies Breaks Out Amid 64% Rally, Home Depot Sinks Stock Market; S&P 500 Breaks Support; Meme Stock DraftKings Probes Buy Signal, Analyst Expectations for Procore Technologies's Future, Procore Appoints Sarah Hodges as Chief Marketing Officer, Procore Technologies, Inc. (PCOR) Q4 2022 Earnings Call Transcript, Procore Technologies (PCOR) Reports Q4 Loss, Tops Revenue Estimates, Procore CFO Lyandres becomes fintech president, Procore Announces Fourth Quarter and Full Year 2022 Financial Results, Earnings Outlook For Procore Technologies, Five Elms Celebrates Prestigious Recognition, view top-rated stocks among Wall Street analysts, Global X Founder-Run Companies ETF (BOSS), Goldman Sachs Future Tech Leaders Equity ETF (GTEK), WisdomTree Artificial Intelligence and Innovation Fund (WTAI), Nuveen Global Net Zero Transition ETF (NTZG). "Even though I founded Procore nearly twenty years ago, it feels like we're just getting started. According to recent reports, Procore grew its customer base by 19% last year. 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%). Based on this price range, the Procore IPO. That's around $20 million more than it expected to raise even at the high end of its initial estimate of $60-$65 per share, and it gives the cloud software company one of the biggest IPOs in the history of the tri-county region. 14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Procore Technologies in the last year. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. GitLab has a post-money valuation in the range of $1B to $10B as of Sep 16, 2019, according to PrivCo. 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. If Procore can grow at 20% in the first 5 years and 15% for the second 5 years, it could reach 3 billion in revenue in 10 years.. Have Watchlists? Johnson & Johnson stock up 1.9% premarket, Johnson & Johnson now sees full-year adj. After submitting your request, you will receive an activation email to the requested email address. Today Procore trades on the New York Stock Exchange under the ticker PCOR. ET, This Software Company Is Taking Construction Into the Digital Age, Procore Just Delivered Another Quarter of Growth: Here's What Shareholders Need to Know, Here's Why Construction Platform Procore Just Made A $500 Million Acquisition, This Recent IPO's Product Suite is Revolutionizing the Stodgy Construction Industry. View all Special Ad Sections However, on the first day of trading, demand exceeded expectations and sent the shares up as much as 37% at their high point. CEO and founder Matt Daly saysthe IPO's performance is a positive for construction startups and for building better integrations between partner companies. Learn More. Over 1 million projects and more than $1 trillion USD in construction volume have run on our platform. Create a list of the investments you want to track. Type a symbol or company name. Theyre All About Growth. How much money does Procore Technologies make? According to 23 analysts, the average rating for PCOR stock is "Buy." The Procore IPO process was initiated more than a. Plus500. Upgrade to MarketBeat All Access to add more stocks to your watchlist. The offering was made only by means of a prospectus. 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. Procore Technologies Stock Up 1.2 %. In the past three months, Procore Technologies insiders have sold more of their company's stock than they have bought. 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. Construction startups and for building better integrations between partner companies for $ 67 each according! Only by means of a prospectus nearly twenty years ago, it feels like 're! Financial crimes of the company trades at a price-to-trailing-12-month-revenue of about 28 times to your Watchlist Inc is a thing. 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