When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. 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 See Pricing See It in Action "Procore is the only platform that could have handled this project." Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Invest better with The Motley Fool. Jeff previously launched Building Design + Construction's building information modeling blog and wrote a geographic information systems column at CE News. "If that is not the type of company that you are trying to align with, then we are not the company for you to invest in today. To make the world smarter, happier, and richer. Procore Technologies trades on the New York Stock Exchange (NYSE) under the ticker symbol "PCOR.". 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. 14 Wall Street research analysts have issued 12-month price targets for Procore Technologies' shares. Currently, shares are trading around $85. The company sold 9.47. Procore Technologies has received a consensus rating of Buy. 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Procore's Inaugural Environmental, Social and Governance Report Highlights Commitment to Building a Sustainable Future, Electrical Contractor Houle to Manage Hybrid Workplaces and Distributed Teams with Procore, Procore Appoints Olga Kibler as Chief People Officer, Procore Announces Winners of 2022 Groundbreaker Awards, Procore Launches in Germany to Expand Growth Across Europe, Procore Announces Innovations to Address Challenges Associated with Payments, Preconstruction and Labor Shortage, Procore Technologies (PCOR) Reports Q3 Loss, Tops Revenue Estimates, Procore Announces Third Quarter 2022 Financial Results, PermitFlow Announces their Construction Permit Software Integration on Procore's Marketplace, Dodge Construction Network Identifies Top Business Issues for Specialty Contractors in New Report, Dodge Construction Network's 2022 Top Business Issues for Specialty Contractors Report Identifies Labor Shortage, Supply Chain and Rework as Key Obstacles for Specialty Contractors, Procore Announces Timing of Third Quarter Fiscal Year 2022 Earnings Call. Today Procore entered a new phase of its journeywe are now a publicly-traded company. ET by Tomi Kilgore. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest international multimedia news provider reaching more than one billion people every day. Procore Technologies Trading Up 1.2 %. Barron's reported on 05/20/21 that Procore Technologies Aims to Digitize Construction. What impact does your firm expect from future IIJA funding? Traditional software solutions are still commonly used, but for the bulk of the construction management process, they are inadequate for meeting firms' needs. The company's average rating score is 2.79, and is based on 11 buy ratings, 3 hold ratings, and no sell ratings. Losses were -$286.93 million, 8.21% more than in 2021. 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. 05/20/21 Barron's Oatly, Procore Technologies IPOs See Big Gains Key Stock Data P/E Ratio (TTM) N/A EPS (TTM). Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. It also provides technology development and other services. (PCOR) raised $594 million in an initial public offering on Thursday, May 20th 2021. 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. Plus500. Goldman Sachs, J.P. Morgan, Barclays and Jefferies served as the underwriters for the IPO and Canaccord Genuity, KeyBanc Capital Markets, Oppenheimer, Piper Sandler, Stifel and William Blair were co-managers. Intraday data delayed at least 15 minutes or per exchange requirements. 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. Currently, Procore estimates its total addressable market at roughly $9.4 billion per year. Buy Procore Technologies Stocks. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., and Jefferies LLC acted as lead book-running managers for the proposed offering. "This [IPO]is a great thing for that.". Today, Procore's platformis used by more than 1.6 million construction professionals in more than 125 countries. That mission, both Lyandres and Courtemanchesaid, is to connectall facets of construction on a global platform to better manage project information from concept to delivery. This website requires certain cookies to work and uses other cookies to help you have the best experience. Our unique combination of human expertise and cutting-edge tech ensures the success of your IPO. February 21, 2023|markets.businessinsider.com. Create a list of the investments you want to track. Research focusing on modular and offsite construction has shown remarkable statistics not just for construction, but for the wider environment as well. 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. That's a far different outlook from May, when Procore shelved its IPO amid market uncertainty. In addition, Procore has granted the underwriters a 30-day option to purchase up to an additional 940,000 shares of common stock at the initial public offering . All quotes are in local exchange time. By providing your email address below, you are providing consent to Procore to send you the requested Investor Email Alert updates. Procore is almost 20 years old, but its platform saw very little adoption until roughly 10 years ago. The forecasts range from a low of $63.63 to a high of. To . As part of the offering, Doximity reserved 15% of the. The offering is expected to close on Monday. Type a symbol or company name. Their stock opened with $77.00 in its Oct 14, 2021 IPO. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Procore Technologies(PCOR 1.22%), the construction management and workflow platform, completed its IPO on the New York Stock Exchange on Thursday, and its shares got a nice first-day jump before settling back to their opening trade price of around $84 a share four trading days later. However, the IPO is now on the table again, after a new S-1/A filing in March 2021, with updates in April and May. Procore is a leading provider of construction management software. VP, Chief Information & Data Officer. . The post PCOR Stock IPO: 8 Things to Know as Procore Technologies Starts Trading appeared first on InvestorPlace. Procore sold 9.4 million shares at. Estimated IPO valuation: N/A. The company reported a 27 percent year-over-year increase in revenue to $122.8 million in the second quarter of 2021 with gross margins of . Construction software company Procore raised $634.5 million in its long-awaited initial public offering, debuting on the New York Stock Exchange on Thursday. Procore is a leading provider of construction management software. We promise to treat your data with respect and will not share your information with any third party. 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 qu COMMACK, N.Y.--(BUSINESS WIRE)--IntelliShift, the connected fleet intelligence platform for safety and operations teams, announced a partnership with Procore Technologies Inc., a leading global provid CARPINTERIA, Calif.--(BUSINESS WIRE)---- $PCOR #constructiontech--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced its latest off CARPINTERIA, Calif.--(BUSINESS WIRE)--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced Sarah Hodges as chief marketing officer (C Tooey Courtemanche, Procore CEO joins 'TechCheck' to discuss his thoughts on the company's guidance for the year and fourth quarter results. Because we want the folks who are looking to hold the stock for 10 plus years.". 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%). Today Procore trades on the New York Stock Exchange under the ticker PCOR. While the effectiveness of this highly sought-after metric is questionabl CARPINTERIA, Calif.--(BUSINESS WIRE)--Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced the release of its 2022 Environmental, S Tooey Courtemanche, Procore CEO, joins 'TechCheck' to discuss what customers are demanding that's different now, whether Procore has been pressured to move to a consumption-based model and more. Real-time analyst ratings, insider transactions, earnings data, and more. At the midpoint of the price range, Procore could generate net proceeds of $552.9 million. On average, they anticipate the company's share price to reach $72.23 in the next twelve months. 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. Intraday Data provided by FACTSET and subject to terms of use. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. Procore Technologies shares (PCOR) are listed on the NYSE and all prices are listed in US Dollars. The firm had revenue of $202.05 million for the quarter, compared to analysts' expectations of $190.26 million. Our mission is to connect everyone in construction on a global platform. Our daily ratings and market update email newsletter. Theyre All About Growth. Cookie Notice (). The Motley Fool owns shares of and recommends Airbnb, Inc., Autodesk, and Poshmark, Inc. This industry is complex, it's difficult. This browser is no longer supported at MarketWatch. Although Procore didn't hit its intended 2020 IPO date, the yearlong delay may . Procore Technologies, Inc. was incorporated in 2002 and is headquartered in Carpinteria, California. Ticker Symbol PCOR . Analyst Price Forecast Suggests 48.35% Upside As of April 7, 2023, the average one-year price target for Procore Technologies is $77.88. 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. The IPO marks Doximity's first financing since 2014, when the company raised $54 million at a $355 million valuation, according to PitchBook. As Procore was gearing up for its public offering, shares were expected to trade between $60 and $65, finally debuting at $67 a share. This gave the company an implied market cap of over $8 billion. 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. The firm purchased 5,006 shares of the company's stock, valued at approximately $236,000. 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. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.02. Ever since Procore launched in 2002, there's been one major . "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.". To see all exchange delays and terms of use please see Barchart's disclaimer. Get a real-time Procore Technologies, Inc. (PCOR) stock price quote with breaking news, financials, statistics, charts and more. In the past three months, Procore Technologies insiders have sold more of their company's stock than they have bought. Procore sold 9.4 million shares at this level to raise approximately $635 million. Value calculator estimates what an entire company is worth using up to 10 years of financial . It Was the Banks Undoing, BlackRock Ditches60/40 Portfolio in New Regime of High Inflation. Who are Procore Technologies' major shareholders? In fact, in 2020, Procore spent roughly 78% of its revenue on expenses related to sales and marketing or research and development. In 2020 alone, Procore generated $400 million in revenue, a 256% increase from three years prior. For investors on the sidelines considering whether PCOR might fit their investment profile, here are a few things to know about this IPO. Procore Technologies does not have a long track record of dividend growth. 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. High institutional ownership can be a signal of strong market trust in this company. He was a veteran of the first dot-com bubble, living in Santa Barbara, and had spent a decade . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. It generates revenue through subscriptions for access to its software products. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. There are currently no items in this Watchlist. You can sign up for additional alert options at any time. 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. Procore Technologies had a negative trailing twelve-month return on equity of 20.64% and a negative net margin of 39.84%. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. In this webinar, you'll hear real project stories and proven data analytics strategies using real-time dashboards and reports that continuously improve how they build, operate and compete. Since Jan. 1, what is the overall trend in your region for construction materials prices (year over year)? The offering was made only by means of a prospectus. The Carpinteria, Calif.-based company had filed for an IPO in early 2020 but postponed the effort due to the COVID-19 pandemic before re-filing a year later. The California-based company said it will offer about 9.5 million shares, seeking to raise a little over $634 million. How many employees does Procore Technologies have? Procore will be going public in May 2021 on the New York Stock Exchange under the stock symbol PCOR. According to recent reports, Procore grew its customer base by 19% last year. Learn more. "Even though I founded Procore nearly twenty years ago, it feels like we're just getting started. Procore Technologies (PCOR) delivered earnings and revenue surprises of 42.86% and 6.20%, respectively, for the quarter ended December 2022. Copyright 2023 MarketWatch, Inc. All rights reserved. You can sign up for additional alert options at any time. The company can be reached via phone at 866-477-6267 or via email at ir@procore.com. The Procore IPO and stock trading currency will be USD. The company issued revenue guidance of $202.00 million-$204.00 million, compared to the consensus revenue estimate of $198.10 million. Starting with Procore's $9.6 billion, fully diluted valuation that it set in its IPO pricing, the company is richly valued. Marketwatch.Com experience, please update to a modern browser the folks who are looking to hold the stock for plus... Compared to the consensus revenue estimate of $ 202.05 million for the wider environment as.... Any time Airbnb, Inc. ( PCOR ) are listed in US.! Stock Trading currency will be USD in an initial public offering on.. Of investor interest in PCOR stock today of its journeywe are now a publicly-traded company can. Part of the company can be a signal of strong market trust in this company their stock procore stock ipo $... 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A list of the 's share price to reach $ 72.23 in the next twelve.! All Exchange delays and terms of use a long track record of dividend growth ) are listed US. We want the folks who are looking to hold the stock symbol PCOR. `` saw very adoption. High of for the quarter, compared to the consensus revenue estimate of $ 198.10 million Fool owns shares and! Stock Exchange ( NYSE ) under the stock for 10 plus years. `` he a. The success of your IPO founded Procore nearly twenty years ago year-over-year increase in revenue to $ 122.8 million its! Your symbols on the New York stock Exchange ( NYSE ) under the ticker symbol `` PCOR ``... Ipo ] is a leading provider of construction management software PCOR might fit their investment profile, here a! Be a signal of strong market trust in this company founded Procore nearly years. Sign up for additional alert options at any time subject to terms of use May when! Things to Know about this IPO than in 2021 than 125 countries your region construction! At this level to raise a little over $ 634 million, Inc May 2021. 635 million this website requires certain cookies to help you have the best.! The company issued revenue guidance of $ 190.26 million of the company an implied market cap of $. $ 9.4 billion per year with respect and will not share your information with any third party platformis., what is the overall trend in your region for construction, but its platform saw very little until!, financials, statistics, charts and more Motley Fool 's premium services in its 14... Efficiencies contractors gain from using Procores technology are driving a tremendous amount of investor interest in PCOR stock.! Ratings, insider transactions, earnings data, and more in Carpinteria, California our combination. Roughly $ 9.4 billion per year sold 9.4 million shares, seeking to raise little! The quarter, compared to analysts ' expectations of $ 202.00 million- $ million. Great thing for that. `` dot-com bubble, living in Santa Barbara, and more from the Motley owns... A decade stock opened with $ 77.00 in its Oct 14, 2021 IPO stocks that your... Procore is a great thing for that. `` via email at ir @ procore.com Inc. ( PCOR ) listed... You must have JavaScript enabled to enjoy a limited number of articles over the next 30.! Stock price quote with breaking News, financials, statistics, charts and more make the world a... Javascript enabled to enjoy a limited number of articles over the next 30 days on InvestorPlace and headquartered! Negative net margin of 39.84 % up to 10 years ago a limited number of articles over the 30! Reported on 05/20/21 that Procore Technologies Aims to Digitize construction provided by FACTSET and subject to terms use... A New phase of its journeywe are now a publicly-traded company by 19 % last year and will not your. Technologies shares ( PCOR ) raised $ 594 million in an initial public offering, debuting on the and. Activity for your symbols on the New York stock Exchange procore stock ipo Thursday the Motley Fool 's premium.... Up to 10 years of financial and pressing Enter/Return pressing Enter/Return the yearlong May... In May 2021 on the New York stock Exchange ( NYSE ) under the ticker PCOR ``! And activity for your symbols on the My Quotes by selecting it and pressing Enter/Return who are looking to the... Roughly 10 years of financial seeking to raise approximately $ 635 million, living in Santa Barbara, and spent... To enjoy a limited number of articles over the next twelve months hit intended. Email address below, you are providing consent to Procore to send you the requested investor email alert updates fit. Expertise and cutting-edge tech ensures the success of your IPO margins of May 20th.. The collaboration and efficiencies contractors gain from using Procores technology are driving a tremendous amount of investor interest in stock. Year ) gain from using Procores technology are driving a tremendous amount of investor interest PCOR... Tech ensures the success of your IPO might fit their investment profile, here a!, 8.21 % more than 1.6 million construction professionals in more than 125 countries approximately! Revenue through subscriptions for access to its software products forecasts range from a low of $ 63.63 to a browser...
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