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. At $67 per share, Procore generated $634.5 million from its IPO. Paul Lyandres, Chief Financial Officer "I think we like to tell ourselves that there is a moment in time where we can achieve the mission," Lyandres says, "but we're also mindful that it is probably not in our lifetimes. One of the companies she launched . Analyst Price Forecast Suggests 48.35% Upside As of April 7, 2023, the average one-year price target for Procore Technologies is $77.88. IPO Date May 20, 2021. Procore Announces Timing of Fourth Quarter and Full Year 2022 Earnings Call, BZI Steel Selects Procore's Construction Management Platform to Build Many of the World's Largest Projects. PTEC has a total of 37 holdings and holds stocks. The offering was made only by means of a prospectus. The average of price targets set by Wall Street analysts indicates a potential upside of 31.5% in Procore Technologies (PCOR). That's nearly double the valuation of its closest competitor, Autodesk (ADSK 1.25%), which trades at a multiple of 16. How were Procore Technologies' earnings last quarter? Procore sold 9.4 million shares at. 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. Construction-management software firm Procore Technologies (NYSE: PCOR) shot up some 35% intraday Thursday, its first trading day following an IPO that priced above the expected range at $67 a. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Since Jan. 1, what is the overall trend in your region for construction materials prices (year over year)? Here are similar public companies: Blade (NASDAQ: BLDE), Fast Radius (NASDAQ: FSRD), Joby Aviation (NYSE: JOBY), Procore Technologies (NYSE: PCOR), Rocket Lab (NASDAQ: RKLB). 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. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. You must click the activation link in order to complete your subscription. On average, they anticipate the company's share price to reach $72.23 in the next twelve months. Based on this price range, the Procore IPO. [Read more]. Specifically, they have bought $0.00 in company stock and sold $9,338,086.00 in company stock. Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. Learn more. Procore Technologies has a . There are currently no items in this Watchlist. (PCOR) raised $594 million in an initial public offering on Thursday, May 20th 2021. Investors in the PCOR stock IPO have done quite well for themselves thus far. Its IPO Gained 31%. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore executives stressed that the IPO was a small step in the company's journey and not an end to it. [7] [8] Procore stock began trading under stock ticker PCOR on May 20, 2021 at $67 per share. A high percentage of insider ownership can be a sign of company health. The offering is expected to close on Monday. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Oatly Group and Procore Technologies made their debuts as public companies Thursday. When is Procore Technologies' next earnings date? Currently, Procors market capitalization sits at more than $10 billion. Type a symbol or company name. View our PCOR earnings forecast. Procore Technologies, Inc. (NYSE:PCOR) issued its earnings results on Thursday, February, 16th. 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 . The company also provides Resource Management that helps contractors to schedule, track, and forecast labor productivity, enhance time management, communication with workforces, and manage profitability on construction projects; and Financial Management, which provides customers with visibility into the financial health of their individual construction projects and portfolios, as well as facilitates untethered access to financial data, linking the field, and the office in real-time. How do I buy shares of Procore Technologies? Receive PCOR Stock News and Ratings via Email. 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SaaS (Software-as-a-Service) provider Procore pursued an IPO early in 2020 before the coronavirus hit. Cookie Notice (). 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. The company primarily sells subscriptions to access its products on computers, smartphones, and tablets through any web browser or from its mobile application available for iOS and Android platforms through its direct sales team. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. Procore had initially filed to go public in February 2020 but was delayed (as so many were) by the onset of the global pandemic in March of the . Sign-up to receive the latest news and ratings for Procore Technologies and its competitors with MarketBeat's FREE daily newsletter. And one small company is building them for the Pentagon! The company has a market capitalization of $7.45 billion, a PE ratio of -25.30 and a beta of 0.58. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Now sporting a $10.9 billion market cap, the company trades at a price-to-trailing-12-month-revenue of about 28 times. Its IPO Gained 31%. Procore Technologies (PCOR) JMP Securities analyst Joe Goodwin maintained a Buy rating on Procore Technologies today and set a price target of $75.00. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. To . 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. Goldman Sachs and Tiger Management Corporation are the most recent investors. Procore Technologies updated its first quarter 2023 earnings guidance on Monday, February, 20th. Our unique combination of human expertise and cutting-edge tech ensures the success of your IPO. VP, Chief Information & Data Officer. Procore's new price. 2023 Stock Analysis. It generated revenues of $113.9 million in Q1 . Procore was set to go public last year but opted to take a private funding round instead due to uncertainty caused by the pandemic. To see all exchange delays and terms of use please see Barchart's disclaimer. A registration statement relating to the shares sold in this offering was filed with the Securities and Exchange Commission and became effective on May 19, 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. At the midpoint of the price range, Procore could generate net proceeds of $552.9 million. The company plans to use this money for . Construction managment software firm Procore Inc. sold 9.47 million shares for $67 each in a May 20 initial public offering on the New York Stock Exchange. Get daily stock ideas from top-performing Wall Street analysts. "That's why we have so many ecosystem partners that we integrate with. What ETFs hold Procore Technologies' stock? Procore,. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. Export data to Excel for your own analysis. In the May 20 IPO on the New York Stock Exchange, it beat that range, selling 9.47 million shares for $67 each. Privacy Notice | 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. 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