Procore executives rang the opening bell at the New York Stock Exchange on May 20, 2021, as the company's stock began trading under the ticker symbol PCOR. However, on the first day of trading, demand exceeded expectations and sent the shares up as much as 37% at their high point. However, Procore did produce a loss of $14 million this past year. Procore's Marketplace has a multitude of partner solutions that integrate seamlessly with Procores platform, giving construction professionals the freedom to connect with what works best for them. Subscriber Agreement & Terms of Use | Copyright 2023 MarketWatch, Inc. All rights reserved. 82.50% of the stock of Procore Technologies is held by institutions. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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. We promise to treat your data with respect and will not share your information with any third party. Founded in 2002, Procore offers its cloud-based construction management software to more than 1.6 million users in over 125 countries. Procore intends to list its common stock on The New York Stock Exchange under the ticker symbol "PCOR." The move comes about a year after Procore filed for an IPO last year, but that effort . 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. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. Procore on May 10 sought an $8 billion valuation by offering shares priced between $60 and $65 each, after it had delayed the IPO by a year due to choppy market conditions stemming from the. 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. In connection with the initial public offering of common stock (the "IPO") of Procore . Goldman Sachs and Tiger Management Corporation are the most recent investors. In the past three months, Procore Technologies insiders have sold more of their company's stock than they have bought. The New York Stock Exchange is the premier venue for global capital raising, and the exchange of choice for issuers. Procore Technologies, Inc. (1611052) SEC Filing S-1 IPO report for the period ending Saturday, August 29, 2020 . 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-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office. The. On Monday May 10, Procore announced that it would sell 9.47 million shares in its IPO, with a price range of $60-$65 per share. Can Garrett Motion Turbocharge A Short Squeeze? The company employs 3,568 workers across the globe. Starting with Procore's $9.6 billion, fully diluted valuation that it set in its IPO pricing, the company is richly valued. Currently, Procors market capitalization sits at more than $10 billion. Oatly, Procore Technologies IPOs See Big Gains, Procore Technologies sets IPO terms, to be valued at up to $8.3 billion, Monetization Opportunities Galore: Analyst Predicts Generative AI Will Grow Microsoft Stock, Analysts Opinions Are Mixed on These Technology Stocks: Procore Technologies (PCOR) and ZoomInfo Technologies (ZI). It also provides technology development and other services. According to the Procore IPO prospectus, the firm is offering 9,470,000 shares, which will leave more than 128 million shares outstanding. Procore sold 9.4 million shares at. If Procore can grow at 20% in the first 5 years and 15% for the second 5 years, it could reach 3 billion in revenue in 10 years.. Although Procore should be profitable at scale (management is shooting for a 20% operating margin) and the company seems to have a long runway for growth, that kind of valuation is a hefty price to pay. We partner with schools and trade unions. Get the latest Procore Technologies Inc (PCOR) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. Interested parties can register for or listen to the call using this link. Investors in the PCOR stock IPO have done quite well for themselves thus far. Get a real-time Procore Technologies, Inc. (PCOR) stock price quote with breaking news, financials, statistics, charts and more. Procore Technologies does not have a long track record of dividend growth. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Procore stock began trading under stock ticker PCOR on May 20, 2021 at $67 per share. GitLab is funded by 19 investors. Procore is a leading provider of construction management software. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with our platform, giving construction professionals the freedom to connect with what works best for them. Cookie Notice (). The company sold 9.47 million shares for $67 each, according to a press release Thursday. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The stock price for Coco will be known as it becomes public. Whether it's streamlining communication from the office to the job site, uploading digital documents, assuring quality and safety specifications, or managing field productivity, Procore provides a comprehensive digital operating system to its customers. Procore Technologies had a negative trailing twelve-month return on equity of 20.64% and a negative net margin of 39.84%. This website requires certain cookies to work and uses other cookies to help you have the best experience. Procore Technologies, Inc., a provider of construction management software, filed its SEC S-1 form on February 28th, 2020. "That's why we have so many ecosystem partners that we integrate with. Procore was recently given a potential price in the $60 to $65 range for its IPO. He lives in Chicago, the birthplace of the skyscraper, where the pace of innovation never leaves him without a story to chase. Please log in to your account or sign up in order to add this asset to your watchlist. ENR CONSTRUCTION ENGINEERING MANAGEMENT TODAY "Procores IPO is a significant moment in our journey," CEO and founder Tooey Courtemanche said in a statement. View all Special Ad Sections EPS $2.68; FactSet consensus $2.50, Johnson & Johnson Q1 loss per share 3 cents vs. EPS $1.93 a year ago, Procore Technologies stock price target raised to $80 from $57 at Mizuho, Procore Technologies stock price target cut to $57 from $70 at Mizuho, Procore Technologies stock price target cut to $95 from $113 at J.P. Morgan, Procore Technologies started at buy with $75 stock price target at Mizuho, Procore Technologies stock price target cut to $85 from $120 at Stifel Nicolaus, Procore Technologies initiated at buy with $100 price target at Stifel. Johnson & Johnson stock up 1.9% premarket, Johnson & Johnson now sees full-year adj. Procore Technologies Trading Up 1.2 %. The firm had revenue of $202.05 million for the quarter, compared to analysts' expectations of $190.26 million. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. In fact, in 2020, Procore spent roughly 78% of its revenue on expenses related to sales and marketing or research and development. Do You Expect the Infrastructure Acts Funding to Impact Your Firm? Copies of the prospectus related to the offering may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attn: Prospectus Department, Telephone: (866) 471-2526, Email: email prospectus-ny@ny.email.gs.com; from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 Telephone: 866-803-9204 Email: prospectus-eq_fi@jpmorganchase.com; from Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717, Telephone: (888) 603-5847, Email: Barclaysprospectus@broadridge.com; or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, Telephone: 877-821-7388, Email: Prospectus_Department@Jefferies.com. What guidance has Procore Technologies issued on next quarter's earnings? Washington D.C., United States Of America - Procore Stock (PCOR NYSE) sunk 14% this week from a high of 104.86. Instead, it closed a $150 million funding round that valued the company at $5 billion. A high percentage of insider ownership can be a sign of company health. View which stocks are hot on social media with MarketBeat's trending stocks report. Do Not SaaS (Software-as-a-Service) provider Procore pursued an IPO early in 2020 before the coronavirus hit. At $67 per share, Procore generated $634.5 million from its IPO. Procore Technologies shares (PCOR) are listed on the NYSE and all prices are listed in US Dollars. (PCOR) raised $594 million in an initial public offering on Thursday, May 20th 2021. Procore Technologies Aims to Digitize Construction. Procore is almost 20 years old, but its platform saw very little adoption until roughly 10 years ago. These different stakeholders are also operating from both the office and the job site simultaneously, so they require a central destination to store files and collaborate. In-depth profiles and analysis for 20,000 public companies. CBS News Reports: "It's an entirely new type of weapon." Reuters->. (Reporting by Derek Francis in Bengaluru; Editing by Devika Syamnath), ((derek.francis@thomsonreuters.com; +91-9986311363 and @derekfrancis089 on Twitter;)). The company issued 9,500,000 shares at $60.00-$65.00 per share. Its IPO Gained 31%. The shares are listed for trading on the New York Stock Exchange under the ticker symbol PCOR.. ET, This Software Company Is Taking Construction Into the Digital Age, Procore Just Delivered Another Quarter of Growth: Here's What Shareholders Need to Know, Here's Why Construction Platform Procore Just Made A $500 Million Acquisition, This Recent IPO's Product Suite is Revolutionizing the Stodgy Construction Industry. Procore on May 10 sought an $8 billion valuation by offering shares priced between $60 and $65 each, after it had delayed the IPO by a year due to choppy market conditions stemming from the pandemic. 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) By providing your email address below, you are providing consent to Procore to send you the requested Investor Email Alert updates. The company is looking to raise up to $615. Top 5 4th Quarter Trades of HARBOURVEST PARTNERS LLC. Cost basis and return based on previous market day close. All Rights Reserved BNP Media. 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. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Its IPO Gained 31%. The technology startup and its. The Procore IPO process was initiated more than a. What ETFs hold Procore Technologies' stock? On average, they anticipate the company's share price to reach $72.23 in the next twelve months. By closing this message or continuing to use our site, you agree to the use of cookies. 14 Wall Street research analysts have issued 12-month price targets for Procore Technologies' shares. By closing this message or continuing to use our site, you agree to the use of cookies. But Procore is not the only company that filed and later put on hold an IPO to get back to work on floating. Riot Platforms, Inc. (RIOT) Soars 17.0%: Is Further Upside Left in the Stock? Today Procore entered a new phase of its journeywe are now a publicly-traded company. The initial public offering raised $634. Macau Casinos Are Hot: Is MGM Resorts The Play? Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. While there's certainly a lot to like about the business, it's probably best to wait on the sidelines for the time being. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. It really was the need to partner [with investors]. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.02. View our PCOR earnings forecast. 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. Oatly, the first to open, saw its shares rise nearly 19%, while Procore's stock gained 31.3%. As Procore was gearing up for its public offering, shares were expected to trade between $60 and $65, finally debuting at $67 a share. Goldman Sachs, JPMorgan Chase, Barclays, and Jefferies Financial led the offering. The stock of Procore Technologies Inc. (NYSE: PCOR) has decreased by -4.89 when compared to last closing price of 55.47.Despite this, the company has seen a loss of -8.77% in its stock price over the last five trading days. Written by When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. "The only way you can build better data integration is bybuilding and scaling the teams that build them," says Daly. Procore is a leading provider of construction management software. . How much money does Procore Technologies make? Procor is a provider of cloud-based construction management software. This is due to data indicating the construction industry has begun to recover from the pandemic and the overall size of . Procore has set an IPO date of May 20 2021. High institutional ownership can be a signal of strong market trust in this company. One technology partner that shares reality-capture photo and video data of construction sites through the Procore platform is StructionSite. It appears this IPO has gone better than most investors expect. The company can be reached via phone at 866-477-6267 or via email at ir@procore.com. CARPINTERIA, Calif., May 24, 2021 - Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced the closing of its initial public offering of 10,410,000 shares of its common stock, including the full exercise by the underwriters of their option to purchase 940,000 additional shares of common Procore executives stressed that the IPO was a small step in the company's journey and not an end to it. At the midpoint of the price range, Procore could generate net proceeds of $552.9 million. An admittedly audacious goal. By visiting this website, certain cookies have already been set, which you may delete and block. Procore, which submitted paperwork for its U.S. IPO last year, raised $150 million at a valuation of $5 billion, according to media reports in April last year. Before diving into the valuation, it's prudent to understand the landscape that Procore operates in. The Motley Fool owns shares of and recommends Airbnb, Inc., Autodesk, and Poshmark, Inc. 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. "As there started to be more clarity and we started to see the world come back, we went back to our original premise of why we were going public.". Buy Procore Technologies Stocks. Trailing twelve-month return on equity of 20.64 % and a negative net margin of 39.84 % not... 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