Procore Technologies (NYSE:PCOR) Stock Price Up 12.4% Following Strong Earnings

Shares of Procore Technologies, Inc. (NYSE:PCOR) traded up 12.4% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $72.07 and last traded at $71.0310. 1,146,516 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 2,827,086 shares. The stock had previously closed at $63.17.

The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.73% and a positive return on equity of 0.71%. The firm had revenue of $402.31 million during the quarter, compared to the consensus estimate of $384.38 million. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year.

Key Stories Impacting Procore Technologies

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: For Q3 2026, Procore reported adjusted earnings of $0.51 per share, above analyst estimates of roughly $0.45–$0.46, and revenue of $402.3 million versus expectations of about $384.4 million. Revenue grew 18.7% year over year. Procore Announces Third Quarter 2026 Financial Results
• Positive Sentiment: Management set Q4 guidance and highlighted new product capabilities, including the general availability of Procore AI’s “digital coworkers.” The results and product updates may support expectations for continued growth. Procore Technologies Q3 Adjusted Earnings, Revenue Rise; Q4 Guidance Set
• Neutral Sentiment: Valuation commentary was mixed: one analysis described PCOR as close to fair value based on cash flow, while another estimated it could be about 9% undervalued in light of earnings and buyback considerations. Procore Stock Looks Close to Fair Value on Cash Flow Procore Could Be 9% Undervalued
• Neutral Sentiment: A previously announced equity buyback program has expired. The report does not indicate whether Procore has authorized a replacement program. Procore’s Announced Equity Buyback Has Expired

Wall Street Analyst Weigh In

A number of brokerages have commented on PCOR. Cantor Fitzgerald upped their price objective on Procore Technologies from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, October 16th. BMO Capital Markets upped their price target on shares of Procore Technologies from $56.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Jefferies Financial Group dropped their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Griffin Securities initiated coverage on shares of Procore Technologies in a report on Wednesday, October 28th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, TD Cowen increased their price target on Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Insider Transactions at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total value of $589,500.00. Following the completion of the transaction, the senior vice president owned 104,981 shares in the company, valued at $6,188,629.95. This trade represents a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Craig Courtemanche, Jr. sold 56,122 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $53.48, for a total transaction of $3,001,404.56. Following the transaction, the chairman directly owned 908,316 shares of the company’s stock, valued at $48,576,739.68. The trade was a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 199,193 shares of company stock valued at $11,182,473. 16.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Procore Technologies during the 2nd quarter worth about $300,345,000. Deutsche Bank AG bought a new stake in Procore Technologies in the 2nd quarter valued at about $114,444,000. Assenagon Asset Management S.A. raised its stake in Procore Technologies by 95.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,398,163 shares of the company’s stock worth $178,653,000 after buying an additional 2,146,182 shares during the period. Bamco Inc. NY bought a new position in Procore Technologies in the second quarter worth approximately $62,116,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Procore Technologies by 158.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,020,531 shares of the company’s stock worth $115,170,000 after acquiring an additional 1,240,247 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Price Performance

The firm has a fifty day simple moving average of $56.69 and a 200-day simple moving average of $53.38. The firm has a market cap of $10.95 billion, a P/E ratio of -276.87 and a beta of 0.75.

About Procore Technologies

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company’s technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore’s products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.