Procore Technologies (PCOR) Reports Earnings Tomorrow. What To Expect
Stock Story
Published Feb 14, 2024 02:01AM ET
Updated Feb 14, 2024 08:04AM ET
Procore Technologies (PCOR) Reports Earnings Tomorrow. What To Expect
Construction management software maker Procore Technologies (NYSE:PCOR) will be reporting earnings tomorrow after market close. Here's what to look for.
Last quarter Procore Technologies reported revenues of $247.9 million, up 33% year on year, beating analyst revenue expectations by 6.1%. It was a mixedquarter for the company, with revenue and EPS exceeding expectations. On the other hand, its customer growth slowed and its revenue guidance for next quarter came in slightly below Wall Street's estimates. The company added 363 customers to a total of 16,067.
Is Procore Technologies buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Procore Technologies's revenue to grow 22.9% year on year to $248.3 million, slowing down from the 38.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 5.8%.
Looking at Procore Technologies's peers in the vertical software segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. PTC (NASDAQ:PTC) delivered top-line growth of 18.1% year on year, beating analyst estimates by 2.3% and Cadence reported revenues up 18.8% year on year, exceeding estimates by 0.7%. PTC traded flat on the results, and Cadence was down 5.2%.
Read the full analysis of PTC's and Cadence's results on StockStory.
There has been positive sentiment among investors in the vertical software segment, with the stocks up on average 3.6% over the last month. Procore Technologies is up 7% during the same time, and is heading into the earnings with analyst price target of $76.1, compared to share price of $73.1.
Get The News You Want
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.