Procore Technologies (NYSE:PCOR) Stock Price Up 12.4% Following Strong Earnings

Key Points

• Procore shares surged 12.4% after the company reported quarterly results that beat expectations.
• Adjusted earnings were $0.51 per share versus analyst estimates of $0.46, while revenue of $402.3 million topped forecasts of $384.4 million and rose 18.7% year over year.
• Management provided fourth-quarter guidance and announced new product capabilities, including the general availability of Procore AI’s “digital coworkers.”

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) shares rose 12.4% on Wednesday following a better than expected earnings announcement. The stock traded as high as $72.07 and last traded at $71.0310. Approximately 1,146,516 shares changed hands during trading, a decline of 59% from the average daily volume of 2,827,086 shares. The stock had previously closed at $63.17.

The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $402.31 million for the quarter, compared to analyst estimates of $384.38 million. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS.

Key Headlines Impacting Procore Technologies

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

• Positive Sentiment: For Q3 2026, Procore reported adjusted earnings of $0.51 per share, above analyst estimates of roughly $0.45–$0.46, and revenue of $402.3 million versus expectations of about $384.4 million. Revenue grew 18.7% year over year. Procore Announces Third Quarter 2026 Financial Results
• Positive Sentiment: Management set Q4 guidance and highlighted new product capabilities, including the general availability of Procore AI’s “digital coworkers.” The results and product updates may support expectations for continued growth. Procore Technologies Q3 Adjusted Earnings, Revenue Rise; Q4 Guidance Set
• Neutral Sentiment: Valuation commentary was mixed: one analysis described PCOR as close to fair value based on cash flow, while another estimated it could be about 9% undervalued in light of earnings and buyback considerations. Procore Stock Looks Close to Fair Value on Cash Flow Procore Could Be 9% Undervalued
• Neutral Sentiment: A previously announced equity buyback program has expired. The report does not indicate whether Procore has authorized a replacement program. Procore’s Announced Equity Buyback Has Expired

Analyst Ratings Changes

PCOR has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on Procore Technologies from $56.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Griffin Securities assumed coverage on Procore Technologies in a report on Wednesday, October 28th. They set a "buy" rating and a $82.00 price target for the company. Zacks Research downgraded Procore Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 2nd. Citigroup reissued a "market outperform" rating on shares of Procore Technologies in a research note on Monday, October 26th. Finally, TD Cowen increased their target price on Procore Technologies from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Procore Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $71.06.

Insider Transactions at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $58.95, for a total transaction of $589,500.00. Following the completion of the sale, the senior vice president directly owned 104,981 shares of the company's stock, valued at approximately $6,188,629.95. The trade was a 8.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benjamin Singer sold 3,943 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $63.35, for a total transaction of $249,789.05. Following the transaction, the insider owned 86,931 shares in the company, valued at approximately $5,507,078.85. The trade was a 4.34% 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 90 days, insiders sold 199,193 shares of company stock valued at $11,182,473. 16.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procore Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG acquired a new stake in shares of Procore Technologies during the second quarter worth $114,444,000. Bank of America Corp DE bought a new stake in shares of Procore Technologies during the 2nd quarter worth approximately $34,651,000. Hillsdale Investment Management Inc. acquired a new stake in Procore Technologies in the first quarter valued at $3,181,000. Whetstone Capital Advisors LLC acquired a new position in Procore Technologies during the second quarter worth approximately $1,990,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Procore Technologies in the 2nd quarter valued at $964,000. 81.10% of the stock is owned by institutional investors.

Procore Technologies Trading Up 14.1%

The business's 50 day moving average price is $56.69 and its 200-day moving average price is $53.38. The company has a market cap of $10.95 billion, a price-to-earnings ratio of -276.87 and a beta of 0.75.

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company's technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore's products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.

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