Procore (PCOR)

• Market cap: $12.6B
• 1 day: -1.41%
• 5 days: 3.60%
• 1 month: 26.00%
• 3 months: 52.60%
• 6 months: 27.50%
• Year to date: 24.77%
• 1 year: 38.13%
• 5 years: -3.97%
• 10 years: -3.97%
• Sector: Information Technology
• Industry: Prepackaged Software

About: Procore Technologies Inc is a cloud-based construction management software company. It generates revenue through subscriptions for access to its software products. The company's products include Design Coordination, BIM, Field Productivity, Project Financials, Invoice Management, Portfolio Financials, Capital Planning, Accounting Integrations, and Analytics. The software products are hosted on its cloud-based SaaS construction management platform. Subscriptions are sold for a fixed fee and revenue is recognized ratably over the term of the subscription.

Employees: 3,694

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

216% more call options, than puts

Call options by funds: $70.7M | Put options by funds: $22.4M

18% more repeat investments, than reductions

Existing positions increased: 138 | Existing positions reduced: 117

1.58% less ownership

Funds ownership: 90.09% [Q2] → 88.5% (-1.58%) [Q3]

6% less funds holding

Funds holding: 388 [Q2] → 366 (-22) [Q3]

7% less funds holding in top 10

Funds holding in top 10: 15 [Q2] → 14 (-1) [Q3]

8% less capital invested

Capital invested by funds: $8.74B [Q2] → $8.06B (-$678M) [Q3]

25% less first-time investments, than exits

New positions opened: 65 | Existing positions closed: 87

Research analyst outlook

23 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $60 29% downside
• Avg. target: $78 7% downside
• High target: $105 24% upside

23 analyst ratings

• positive: 15 65%
• neutral: 8 35%
• negative: 0 0%

UBS Taylor McGinnis 91% 1-year accuracy 10 / 11 met price target	24% upside $105	Buy Initiated	2 Dec 2024
JMP Securities Joe Goodwin 61% 1-year accuracy 11 / 18 met price target	7% upside $90	Market Outperform Maintained	2 Dec 2024
DA Davidson Gil Luria 77% 1-year accuracy 24 / 31 met price target	17% downside $70	Neutral Maintained	22 Nov 2024
Scotiabank Nick Altmann 63% 1-year accuracy 5 / 8 met price target	1% upside $85	Sector Outperform Maintained	22 Nov 2024
Jefferies Brent Thill 76% 1-year accuracy 34 / 45 met price target	5% downside $80	Hold Maintained	22 Nov 2024