PCOR Stock Recent News

Does Procore Technologies (PCOR) have what it takes to be a top stock pick for momentum investors? Let's find out.

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

Procore Technologies is under the radar for focusing on the construction industry, which receives less attention from investors than other industries like technology or healthcare. Zscaler is a company that focuses on aspects of cybersecurity that the average person may not understand very well; therefore, it has fallen off many investors' radar screens.

Procore has demonstrated substantial financial progress, as its revenue soared to $214 million, reflecting a year-over-year growth of 34%, while also achieving an impressive gross margin of 85%. Procore has a well-diversified customer base, ensuring that a crisis in a single sector, such as the office sector, won't substantially impact their operations. Procore is thoroughly dedicated to broadening its user base and enhancing platform engagement.

I upgraded my rating from Hold to Buy given the strong 1Q23 results and an upward revision of FY23 guidance. PCOR's large customer backlog and exposure to thriving construction sub-sectors provide insulation against short-term demand fluctuations and weaker market segments. The company's path towards breakeven profitability and continued growth in the untapped construction industry support my optimistic outlook.

The global construction industry offers a significant opportunity for software companies like Procore to drive digital transformation. PCOR's construction management platform is considered best-in-class and is expected to gain market share.

Procore's Q4 performance was impressive, characterized by substantial revenue growth and robust gross margins. The platform offers a wide range of features that are specifically designed to assist contractors and owners.

CARPINTERIA, Calif.--(BUSINESS WIRE)---- $PCOR--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced that it will report its first quarter fiscal year 2023 financial results after the U.S. financial markets close on Wednesday, May 3, 2023. In conjunction with this announcement, Procore will host a conference call on Wednesday, May 3, 2023 at 2:00 p.m. Pacific Time to discuss Procore's financial results and financial guidance.

Procore Technologies, Inc. operates in a large and relatively untapped market, with the potential to benefit from long-term trends such as the digitalization of construction, cloud computing, and business intelligence. The company reported strong revenue growth in its latest earnings report, with a solid backlog and expansion momentum.

CrowdStrike and Procore are primed for more growth in the years to come.