Procore Technologies (NYSE:PCOR) Issues Quarterly Earnings Results

Key Points

• Procore reported Q1 revenue of $359.3M (+15.7% YoY) that beat estimates while EPS missed at $0.34 vs. $0.36; non‑GAAP operating margin expanded to 17% and management raised full‑year revenue and margin guidance.
• The Datagrid acquisition has been rapidly integrated and management cited early commercial traction for Procore AI, with a specialist sales overlay now and broader salesforce selling planned in Q3, though AI compute costs may cause modest near‑term gross‑margin headwinds offset by targeted efficiency gains.
• Shares fell on the print, analyst views are mixed despite a consensus price target near $73.25, and recent insider selling occurred amid high institutional ownership (~81%).

Procore Technologies (NYSE:PCOR - Get Free Report) announced 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. The business had revenue of $359.28 million for the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The firm's revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS.

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 Price Performance

Shares of NYSE PCOR traded down $1.60 during mid-day trading on Wednesday, reaching $53.09. The company had a trading volume of 4,540,273 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 stock has a market cap of $8.01 billion, a PE ratio of -79.24 and a beta of 0.78. The company has a 50-day moving average price of $55.64 and a two-hundred day moving average price of $64.41. Procore Technologies has a 1-year low of $46.08 and a 1-year high of $82.32.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCOR. DA Davidson cut their target price on Procore Technologies from $75.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, February 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Procore Technologies in a research note on Thursday, January 22nd. Zacks Research raised Procore Technologies from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Barclays lowered their price target on 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, Piper Sandler lowered their price target on Procore Technologies from $79.00 to $71.00 and set an "overweight" rating on the stock in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $73.25.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 9,615 shares of Procore Technologies stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $54.48, for a total value of $523,825.20. Following the transaction, the director directly owned 1,012,136 shares in the company, valued at $55,141,169.28. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin C. Singer sold 4,225 shares of Procore Technologies stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $211,250.00. Following the completion of the transaction, the insider owned 64,660 shares in the company, valued at $3,233,000. The trade was a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 148,026 shares of company stock worth $7,783,734 in the last three months. 16.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. Wasatch Advisors LP grew its holdings in shares of Procore Technologies by 58.4% during the second quarter. Wasatch Advisors LP now owns 4,656,421 shares of the company's stock valued at $318,592,000 after buying an additional 1,717,492 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Procore Technologies by 77.6% during the third quarter. Wellington Management Group LLP now owns 3,401,891 shares of the company's stock valued at $248,066,000 after buying an additional 1,486,153 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Procore Technologies by 173.1% during the third quarter. Woodline Partners LP now owns 1,790,203 shares of the company's stock valued at $130,542,000 after buying an additional 1,134,657 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Procore Technologies during the fourth quarter valued at $56,758,000. Finally, DF Dent & Co. Inc. grew its holdings in shares of Procore Technologies by 208.6% during the third quarter. DF Dent & Co. Inc. now owns 1,017,035 shares of the company's stock valued at $74,162,000 after buying an additional 687,424 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Key Procore Technologies News

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.

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.

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