Procore (PCOR)

• Market cap: $11.4B
• 1 day: 1.39%
• 5 days: -2.39%
• 1 month: 8.92%
• 3 months: 28.64%
• 6 months: 20.41%
• Year to date: 12.99%
• 1 year: 14.79%
• 5 years: -13.03%
• 10 years: -13.03%
• 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

17% more repeat investments, than reductions

Existing positions increased: 138 | Existing positions reduced: 118

1.58% less ownership

Funds ownership: 90.09% [Q2] → 88.51% (-1.58%) [Q3]

5% less funds holding

Funds holding: 388 [Q2] → 367 (-21) [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]

24% less first-time investments, than exits

New positions opened: 65 | Existing positions closed: 86

Research analyst outlook

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

• Low target: $70 9% downside
• Avg. target: $86 12% upside
• High target: $105 37% upside

16 analyst ratings

• positive: 12 75%
• neutral: 4 25%
• negative: 0 0%

Stifel Adam Borg 82% 1-year accuracy 23 / 28 met price target	22% upside $93	Buy Maintained	18 Dec 2024
Mizuho Matthew Brooks 100% 1-year accuracy 1 / 1 met price target	2% downside $75	Neutral Maintained	13 Dec 2024
Baird Joe Vruwink 50% 1-year accuracy 21 / 42 met price target	25% upside $96	Outperform Maintained	12 Dec 2024
JP Morgan Alexei Gogolev 46% 1-year accuracy 12 / 26 met price target	20% upside $92	Overweight Maintained	9 Dec 2024
UBS Taylor McGinnis 75% 1-year accuracy 9 / 12 met price target	37% upside $105	Buy Initiated	2 Dec 2024