PCOR Stock Recent News

Procore Technologies (PCOR) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Procore Technologies (PCOR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Procore Technologies, Inc. (NYSE:PCOR ) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Matthew Puljiz - Vice President, Finance Tooey Courtemanche - Founder, President and Chief Executive Officer Howard Fu - Chief Financial Officer Conference Call Participants Brent Bracelin - Piper Sandler DJ Hynes - Canaccord Saket Kalia - Barclays Mike Richards - Stifel Jason Celino - KeyBanc Daniel Jester - BMO Dylan Becker - William Blair Brent Thill - Jefferies Nick Altmann - Deutsche Bank Operator [Abrupt Start] I will be your moderator today. [Operator Instructions] I would now like to pass the conference over to our host, Matthew Puljiz with Procore.

IPO Stock Of The Week, software leader Procore Technologies, is approaching its latest buy point in today's stock market action.

CARPINTERIA, Calif.--(BUSINESS WIRE)---- $PCOR--Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced that it will report its third quarter fiscal year 2023 financial results after the U.S. financial markets close on Wednesday, November 1, 2023. In conjunction with this announcement, Procore will host a conference call on Wednesday, November 1, 2023 at 2:00 p.m. Pacific Time to discuss Procore's financial results and financial guidance.

Procore Technologies, Inc. provides construction management software globally. The company's revenue has been increasing, but operating losses remain high. Procore's growth may be impacted by lengthening sales cycles and smaller initial contract wins in the short term.

Procore Technologies is in the early stage of its opportunity to provide the construction industry with excellent cloud-based productivity tools. A poor economy can negatively impact the construction industry and Procore Technologies' results.

Procore Technologies (PCOR) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.10 per share. This compares to loss of $0.19 per share a year ago.

IAS, MESO and PCOR made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 26, 2023.

Procore's cloud-based tools, aimed at improving workflow inefficiencies, stand to capitalize on the growing demand and anticipated increase in global construction spending. Real-time data aggregation and analysis offered by Procore could automate complex workflows, providing a competitive advantage and increased transparency in the construction industry. Recommend a "hold" due to the company's overvaluation, unprofitability due to high SG&A expenses, and risks associated with fluctuations in construction spending, heightened competition, and reliance on third-party services.