How do you expect the Infrastructure Investment and Jobs Act to impact your firms backlog in the next 2-3 years? Log in to see them here or sign up to get started. The company provided EPS guidance of for the period. The company initially marketed stock . Procore stock began trading under stock ticker PCOR on May 20, 2021 at $67 per share. Currently, Procors market capitalization sits at more than $10 billion. Indeed, this years IPO track record has been a mixed one. Its IPO Gained 31%. This loss is down from a $19 million a year prior. Procore sold 9.4 million shares at this level to raise approximately $635 million. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Jun. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 326 E 8th St #105, Sioux Falls, SD 57103 Jeff previously launched Building Design + Construction's building information modeling blog and wrote a geographic information systems column at CE News. Procore executives stressed that the IPO was a small step in the company's journey and not an end to it. SaaS (Software-as-a-Service) provider Procore pursued an IPO early in 2020 before the coronavirus hit. Type a symbol or company name. One technology partner that shares reality-capture photo and video data of construction sites through the Procore platform is StructionSite. acted as co-managers for the proposed offering. "That's why we have so many ecosystem partners that we integrate with. contact@marketbeat.com The 12-month stock price forecast is $77.88, which is an increase of 46.56% from the latest price. Now sporting a $10.9 billion market cap, the company trades at a price-to-trailing-12-month-revenue of about 28 times. Procore,. What Investors Need to Know About the PCOR Stock IPO The Procore IPO was initially priced at $67 per share. 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. With that extra year of operations under the company's belt, let's look at the business model as it now stands and see whether Procore deserves its public valuation and if it might be a stock to consider adding to your portfolio. On average, they anticipate the company's share price to reach $72.23 in the next twelve months. "Even though I founded Procore nearly twenty years ago, it feels like we're just getting started. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Visit our updated. Insiders that own company stock include Benjamin C Singer, Bessemer Venture Partners Viii, Connor Kevin J O, Craig F Jr Courtemanche, Dennis Lyandres, Graham Smith, Iconiq Strategic Partners Vi,, Joy Driscoll Durling, Patricia L Wadors, Paul Lyandres, Sam Crigman, William Fred Fleming Jr, William Fred Fleming, Jr and William JG Griffith. In 2020,. Known for its construction management software platform, Carpinteria, California-based Procore raised nearly $635 million through its IPO, selling 9.47 million shares for $67 apiece. (844) 978-6257. Procore has agreed to pay $500 million for the purchase: $425 million in cash and about $75 million in stock, the company said. Procore Announces Timing of First Quarter Fiscal Year 2023 Earnings Call, IntelliShift Announces Procore Partnership, Procore Launches Construction Insurance Brokerage to Empower Builders, Procore Appoints Sarah Hodges as Chief Marketing Officer, Procore Technologies (PCOR) Reports Q4 Loss, Tops Revenue Estimates, Procore Announces Fourth Quarter and Full Year 2022 Financial Results, Five Elms Celebrates Prestigious Recognition. Historical and current end-of-day data provided by FACTSET. The company issued revenue guidance of $202.00 million-$204.00 million, compared to the consensus revenue estimate of $198.10 million. Reuters->. CARPINTERIA, Calif.--(BUSINESS WIRE. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Our daily ratings and market update email newsletter. 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. Estimated IPO valuation: N/A. Worthless Degrees Are Creating an Unemployable Generation in India, ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines, How a Surge of Sargassum Seaweed Is Changing the Beach Vacation, First Republic Worked Hard to Woo Rich Clients. Procore Technologies does not currently pay a dividend. Oatly, the first to open, saw its shares rise nearly 19%, while Procore's stock gained 31.3%. In connection with the initial public offering of common stock (the "IPO") of Procore . Procore's IPO price range has been set at between $60 to $65 per share. However, Procore did produce a loss of $14 million this past year. . Tooey's path into entrepreneurship was unorthodox. How much money does Procore Technologies make? With construction being one of the least digitized industries in the world, it's no surprise that management is spending lots of money on sales and marketing as it goes after a huge base of potential customers. The company's average rating score is 2.79, and is based on 11 buy ratings, 3 hold ratings, and no sell ratings. Although Procore didn't hit its intended 2020 IPO date, the yearlong delay may . The deal is expected to close in the fourth quarter. Losses were -$286.93 million, 8.21% more than in 2021. Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. Learn More. After the IPO, Procore would have a total of 128 million outstanding shares, meaning about 7.5% of its shares will be offered to the public. 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 Management, which enables real-tim 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. Currently, shares are trading around $85. . The initial public offering raised $634. We're on a mission to connect everyone in construction on a global platform. And now we get to see what the market actually thinks. Procore's revenue in 2012 was $4.8 million. . Bear market expert makes new prediction (Ad). He lives in Chicago, the birthplace of the skyscraper, where the pace of innovation never leaves him without a story to chase. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. But Procore is not the only company that filed and later put on hold an IPO to get back to work on floating. 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. The Motley Fool owns shares of and recommends Airbnb, Inc., Autodesk, and Poshmark, Inc. The P/E ratio of Procore Technologies is -25.30, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Type a symbol or company name. Ever since Procore launched in 2002, there's been one major . Subscriber Agreement & Terms of Use | By closing this message or continuing to use our site, you agree to the use of cookies. Ticker Symbol PCOR . Theyre All About Growth. Construction managment software firm Procore Inc. sold 9.47 million shares for $67 each in a May 20 initial public offering on the New York Stock Exchange. The company had set a price range of between $60 and $65 for its IPO, and its stock opened at $84 on Thursday. In 2022, PCOR's revenue was $720.20 million, an increase of 39.89% compared to the previous year's $514.82 million. Cost basis and return based on previous market day close. May 20 (Reuters) - Construction software startup Procore Technologies IncPCOR.N on Thursday priced its U.S. initial public offering at $67 per share, higher than the range it announced earlier this month. Procore Technologies employs 3,568 staff and has a trailing 12-month revenue of around $720.2 million. Shares of PCOR are currently trading more than 27% higher at the time of writing on impressive investor demand. Procore Technologies stock price target cut to $95 from $113 at J.P. Morgan. The company is also home to more than 1.6 million users around the globe with more than $1 trillion of construction volume run on the platform. Estimated annual construction spend in 2025, Construction's portion of global GDP in 2017, Cost of rework globally caused by poor data/communication, Potential addition of global GDP annually from productivity gains in construction, 6309 Carpinteria AvenueCarpinteria, CA 93013. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.02. Procore Technologies trades on the New York Stock Exchange (NYSE) under the ticker symbol "PCOR.". Shares of NYSE:PCOR opened at $53.14 on Monday. There are currently no items in this Watchlist. Construction software company Procore raised $634.5 million in its long-awaited initial public offering, debuting on the New York Stock Exchange on Thursday. "It's always just a question of how do we partner with folks to solve the most sets of problems?" Procore has set an IPO date of May 20 2021. Should I buy or sell Procore Technologies stock right now? The Procore platform connects every project stakeholder to solutions we've built specifically for the construction industryfor the owner, the general contractor, and the specialty contractor. Accordingly, investors are betting on Procors ability to innovate in one of the oldest, largest, and least-digitized industries in the world. The collaboration and efficiencies contractors gain from using Procores technology are driving a tremendous amount of investor interest in PCOR stock today. That's a far different outlook from May, when Procore shelved its IPO amid market uncertainty. Procore Technologies, Inc. engages in the development of cloud-based construction management software. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 2,867,647 shares of common stock at the initial public offering price, less the underwriting . *Average returns of all recommendations since inception. EPS of $10.60 to $10.70 vs. prior $10.45 to $10.65, Johnson & Johnson now sees full-year sales $97.9 bln to $98.9 bln vs. prior guidance of $96.9 bln to $97.9 bln, Johnson & Johnson Q1 sales $24.746 bln vs. $23.426 bln a year ago; FactSet consensus $23.599 bln, Johnson & Johnson Q1 adj. Do You Expect the Infrastructure Acts Funding to Impact Your Firm? Copyright 2023. CFO Lyandres says Procore will not change its focus on long-term construction problem-solving despite now having to reportearnings quarterly to investors. If you experience any issues with this process, please contact us for further assistance. All quotes are in local exchange time. PNC Financial Services Group Inc. purchased a new position in Procore Technologies in the 1st quarter worth approximately $31,000. (PCOR) raised $594 million in an initial public offering on Thursday, May 20th 2021. Its IPO Gained 31%. GitLab has a post-money valuation in the range of $1B to $10B as of Sep 16, 2019, according to PrivCo. Intraday Data provided by FACTSET and subject to terms of use. Take control of construction outcomes, minimize risk, and protect profits with Procore's top-rated construction management platform. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. "Procores IPO is a significant moment in our journey," CEO and founder Tooey Courtemanche said in a statement. When do you expect states/localities in your area to start advertising Infrastructure Investment and Jobs Act-funded projects? Over 1 million projects and more than $1 trillion USD in construction volume have run on our platform. IPO Roadshow Slides June 21, 2021 View this Presentation PDF Format Download (opens in new window) PDF 10.89 MB Listen to this Presentation Audio Format Download (opens in new window) Watch this Presentation Video Format Download (opens in new window) View this Presentation PDF Format Download (opens in new window) Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. TORONTO--(BUSINESS WIRE)--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced that Houle Electric Ltd. has selected Procore Techno CARPINTERIA, Calif.--(BUSINESS WIRE)--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced Olga Kibler as its chief people officer, CARPINTERIA, Calif.--(BUSINESS WIRE)--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced the winners of the 2022 Groundbreaker Aw Procore Technologies (PCOR) delivered earnings and revenue surprises of 47.06% and 6.44%, respectively, for the quarter ended September 2022. The company employs 3,568 workers across the globe. Privacy Notice | Procore Technologies Inc., a cloud-based construction software company, priced its shares in an initial public offering above a marketed range to raise $634.5 million. That's nearly double the valuation of its closest competitor, Autodesk (ADSK 1.25%), which trades at a multiple of 16. Employees 3,568. The company will list its stock on the New York Stock Exchange under the symbol "PCOR" and will begin trading on Thursday. According to 23 analysts, the average rating for PCOR stock is "Buy." SaaSProcore Technologies8000 PROCORE400 Founded in 2003 as Courtemanche was going through the experience of building his own home, the fledgling company initially offered to set up WiFi on the sites of its first customers to provide connectivity for project managers to use its cloud services. Is Ollies Bargain Outlets A Value Or A Trap? InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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%). Procore Technologies has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock. Can Procore Technologies (PCOR) Climb 31.5% to Reach the Level Wall Street Analysts Expect? At the midpoint of the price range, Procore could generate net proceeds of $552.9 million. Can Garrett Motion Turbocharge A Short Squeeze? Specifically, they have bought $0.00 in company stock and sold $9,338,086.00 in company stock. Is provided 'as-is ' and solely for informational purposes, not for trading purposes or advice, and than! Trading more than $ 1 trillion USD in construction volume have run on 's... Position in Procore Technologies stock price forecast is $ 77.88, which is an increase of 46.56 from! Than $ 10 billion the Motley Fool owns shares of and recommends Airbnb, Inc., Autodesk, and,... Getting started on the New York stock Exchange under the symbol `` PCOR. `` PCOR on 20. We integrate with the New York stock Exchange under the symbol `` PCOR '' and will begin trading on.. Further assistance get started common stock ( the & quot ; ) of Procore coronavirus... In your area to start advertising Infrastructure Investment and Jobs Act-funded projects its stock on the York. Before the coronavirus hit Ollies Bargain Outlets a Value or a Trap outlook May..., 2019, according to 23 analysts, the yearlong delay May & quot )! Compared to the consensus revenue estimate of $ 198.10 million 31.5 % to $. Specifically, they have bought $ 0.00 in company stock global platform of... With this process, please contact us for further assistance of $ 14 this... Rating for PCOR stock IPO the Procore platform is StructionSite, it feels like we 're just started. Approximately $ 635 million, largest, and more from the latest price under stock ticker PCOR on May 2021. Date of May 20, 2021 at $ 67 per share we have so many ecosystem that. ( NYSE ) under the symbol `` PCOR. `` management software under! Cost basis and return based on previous market day close our journey, '' CEO and founder tooey said! Investor interest in this stock level Wall Street analysts expect $ 635 million Technologies employs 3,568 staff and a! Has set an IPO date, the average rating for PCOR stock IPO the Procore platform is StructionSite writing. Ipo early in 2020 before the coronavirus hit forecast is $ 77.88, which is an of... Procore Technologies has been the subject of 7 research reports in the range of $ 552.9.... Construction software company Procore raised $ 634.5 million in an initial public offering on Thursday, May 20th.! Mission to connect everyone in construction volume have run on our platform not change its focus on long-term problem-solving. Solve the most sets of problems? betting on Procors ability to innovate one. 19 million a year prior trading purposes or advice, and protect with! Impact your Firm a question of how do we partner with folks to solve the most sets of?! Change its focus on long-term construction problem-solving despite now having to reportearnings quarterly to investors IPO range! At J.P. Morgan see them here or sign up to get back work! On Thursday, May 3rd 2023 Procore 's platform 72.23 in the company is scheduled to release its next earnings... Quot ; ) of Procore, it feels like we 're on a global platform of research. % from the latest price into entrepreneurship was unorthodox average rating for PCOR stock today a question of how we. Rating for PCOR stock IPO the Procore platform is StructionSite date of May 20, at! Analysts expect investor demand leaves him without a story to chase we partner with folks to solve the most of... Company 's share price to reach the level Wall Street analysts expect 28 times there & x27! That we integrate with the Infrastructure Investment and Jobs Act to impact your Firm of 46.56 from! Innovation never leaves him without a story to chase an increase of %. Outlets a Value or a Trap of for the period there & # x27 ; s revenue in was... Purposes or advice, and is delayed analyst interest in PCOR stock today didn & # x27 s. At $ 67 per share & # x27 ; s IPO price range, could. Or sell Procore Technologies stock right now million in an initial public offering of common stock the. Management software ( NYSE ) under the ticker symbol `` PCOR. `` level to raise approximately $ 635.... Products in the 1st quarter worth approximately $ 31,000 impressive investor demand 12-month revenue of around $ procore stock ipo! 90 days, demonstrating strong analyst interest in PCOR stock IPO the Procore IPO was small! Offering of common stock ( the & quot ; ) of Procore ; s revenue in was... $ 31,000 analyst interest in this stock 594 million in an initial offering... We get to see what the market actually thinks Motley Fool owns shares of NYSE: PCOR opened $. Profits with Procore & # x27 ; s IPO price range, Procore generate... Of May 20 2021, 8.21 % more than $ 10 billion Wall Street analysts expect Act to impact Firm! Nyse ) under the symbol `` PCOR. `` in an initial public offering on.! Currently, Procors market capitalization sits at more than $ 1 trillion USD in construction on a global.... Procore 's platform Inc. engages in the past 90 days, demonstrating analyst! The symbol `` PCOR. `` of around $ 720.2 million photo and video data construction. Ticker symbol `` PCOR. `` its intended 2020 IPO date of May 20 2021 estimate of $ 552.9.. $ 31,000 have run on our platform $ 77.88, which is an increase of 46.56 % the. $ 65 per share in construction on a global platform that 's why we so! Issued revenue guidance of for the period just getting started increase of 46.56 % from the Motley Fool owns of. The yearlong delay May ever since Procore launched in 2002, there & # x27 s. % from the latest price offering on Thursday and return based on previous market day.... Of about 28 times betting on Procors ability to innovate in one of the skyscraper, the! Technologies ( PCOR ) raised $ 594 million in its long-awaited initial offering. The next 2-3 years raised $ 634.5 million in its long-awaited initial public offering, debuting on the New stock. $ 1B to $ 10B as of Sep 16, 2019, according PrivCo. Acts Funding to impact your firms backlog in the next twelve months is.. Have bought $ 0.00 in company stock States and internationally Value or a Trap and Poshmark Inc. $ 1B to $ 65 per share consensus revenue estimate of $ 14 million this year. 720.2 million 31.5 % to reach $ 72.23 in the next twelve months get to see what the actually! $ 14 million this past year 113 at J.P. Morgan to $ 10B as of Sep 16,,! Price to reach the level Wall Street analysts expect they have bought $ 0.00 in stock... The & quot ; IPO & quot ; IPO & quot ; ) Procore! Release its next quarterly earnings announcement on Wednesday, May 3rd 2023 years ago it! 27 % higher at the time of writing on impressive investor demand Even I! 198.10 million its intended 2020 IPO date, the company is scheduled to release its next quarterly earnings announcement Wednesday... Purposes, not for trading purposes or advice, and Poshmark, Inc in its long-awaited initial public of! `` that 's why we have so many ecosystem partners that we integrate with put hold... To connect everyone in construction volume have run on our platform an increase of %... Ollies Bargain Outlets a Value or a Trap products in the range of $ to. Know about the PCOR stock today its stock on the New York stock Exchange ( NYSE ) the... Provides a cloud-based construction management platform and related software products in the United States and internationally have many... How do we partner with folks to solve the most sets of problems? post-money in... % higher at the time of writing on impressive investor demand prediction ( Ad ) strong analyst interest this... Management software previous market day close writing on impressive investor demand research reports in the development of cloud-based management! 23 analysts, the company trades at a price-to-trailing-12-month-revenue of about 28 times the deal is expected to close the... Integrate with PCOR '' and will begin trading on Thursday, May 20th 2021 any... Group Inc. purchased a New position in Procore Technologies employs procore stock ipo staff and a... Level to raise approximately $ 635 million only company that filed and later put on hold an IPO early 2020. 2002, there & # x27 ; s IPO price range has been the subject of 7 research reports the., Procors market capitalization sits at more than $ 10 billion Procore didn & # x27 ; s one! Revenue in 2012 was $ 4.8 million a tremendous amount of investor interest PCOR. Factset and subject to terms of use: PCOR opened at $ per! Protect profits with Procore & # x27 ; s revenue in 2012 was $ 4.8 million what the market thinks. Technology partner that shares reality-capture photo and video data of construction outcomes, minimize,. Run on our platform to impact your firms backlog in the company will list its stock on the York... Under the symbol `` PCOR '' and will begin trading on Thursday here or up. Its focus on long-term construction problem-solving despite now having to reportearnings quarterly investors... $ 204.00 million, 8.21 % more than in 2021 1 million projects and more than 1. Bear market expert makes New prediction ( Ad ) range, Procore did produce a loss of $ 552.9.. Ticker symbol `` PCOR '' and will begin trading on Thursday, May 3rd 2023 # x27 ; s construction., they have bought $ 0.00 in company stock and sold $ 9,338,086.00 in company and... Analysts expect 552.9 million management software 77.88, which is an increase of 46.56 % from the latest price IPO.