procore stock ipo

The company offers freight listing, matching, and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, electronic toll collection, and energy services. Archives. After the IPO, Procore would have a total of 128 million outstanding shares, meaning about 7.5% of its shares will be offered to the public. By closing this message or continuing to use our site, you agree to the use of cookies. Procore Technologies trades on the New York Stock Exchange (NYSE) under the ticker symbol "PCOR.". He lives in Chicago, the birthplace of the skyscraper, where the pace of innovation never leaves him without a story to chase. Procore Technologies has a . 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. Can Procore Technologies (PCOR) Climb 31.5% to Reach the Level Wall Street Analysts Expect? Mizuho analyst Matthew Brooks maintains Procore Technologies (NYSE:PCOR) with a Buy and lowers the price target from $80 to $75. Upgrade to MarketBeat All Access to add more stocks to your watchlist. CARPINTERIA, Calif.--(BUSINESS WIRE. Whether it's streamlining communication from the office to the job site, uploading digital documents, assuring quality and safety specifications, or managing field productivity, Procore provides a comprehensive digital operating system to its customers. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Construction software company Procore raised $634.5 million in its long-awaited initial public offering, debuting on the New York Stock Exchange on Thursday. View which stocks are hot on social media with MarketBeat's trending stocks report. 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 . If you experience any issues with this process, please contact us for further assistance. Jeff previously launched Building Design + Construction's building information modeling blog and wrote a geographic information systems column at CE News. Its IPO Gained 31%. Procore Technologies is a software-application business based in the US. Procore will list its stock on . In 2020,. The offering is expected to close on Monday. He was a veteran of the first dot-com bubble, living in Santa Barbara, and had spent a decade . Compare Top Brokerages Here. Instead, it closed a $150 million funding round that valued the company at $5 billion. Hear the latest economic, business and market news, as well as global, national, and local news. Starting with Procore's $9.6 billion, fully diluted valuation that it set in its IPO pricing, the company is richly valued. He is a two-time Jesse H. Neal award winner and multiple ASBPE winner for his tech coverage. We promise to treat your data with respect and will not share your information with any third party. Technology is just one of the things that it needs to help push it to the next stage and next generation.". An admittedly audacious goal. says Lyandres. You can sign up for additional alert options at any time. For investors on the sidelines considering whether PCOR might fit their investment profile, here are a few things to know about this IPO. "The only way you can build better data integration is bybuilding and scaling the teams that build them," says Daly. Goldman Sachs, JPMorgan Chase, Barclays, and Jefferies Financial led the offering. Making the world smarter, happier, and richer. What is Procore Technologies' stock price today? These symbols will be available throughout the site during your session. You must click the activation link in order to complete your subscription. When do you expect states/localities in your area to start advertising Infrastructure Investment and Jobs Act-funded projects? All quotes are in local exchange time. Procore is a leading provider of construction management software. Procore's IPO price range has been set at between $60 to $65 per share. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Sell Personal Information, PDF Format Download (opens in new window), Audio Format Download (opens in new window), Video Format Download (opens in new window), Environmental, Social, & Governance (ESG). 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. Washington D.C., United States Of America - Procore Stock (PCOR NYSE) sunk 14% this week from a high of 104.86. The company initially marketed stock . ENR CONSTRUCTION ENGINEERING MANAGEMENT TODAY The company has a market capitalization of $7.45 billion, a PE ratio of -25.30 and a beta of 0.58. "That's why we have so many ecosystem partners that we integrate with. February 21, 2023|markets.businessinsider.com. We're on a mission to connect everyone in construction on a global platform. Derek Francis for The Motley Fool recommends Coupang, Inc. Copyright 2023. Over 1 million projects and more than $1 trillion USD in construction volume have run on our platform. 14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Procore Technologies in the last year. We are proud to be at the forefront of this shift.". Bear market expert makes new prediction (Ad). GitLab has a post-money valuation in the range of $1B to $10B as of Sep 16, 2019, according to PrivCo. Indeed, this years IPO track record has been a mixed one. View institutional ownership trends. Its IPO Gained 31%. [Read more]. Get a real-time Procore Technologies, Inc. (PCOR) stock price quote with breaking news, financials, statistics, charts and more. This industry is complex, it's difficult. He also wrote about materials prices, construction procurement and estimation for MetalMiner.com. Shares of Procore priced above range at $67 and then opened at $84 per share, closing their first day of trading at $88. Losses were -$286.93 million, 8.21% more than in 2021. When is Procore Technologies' next earnings date? 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 . Procore has agreed to pay $500 million for the purchase: $425 million in cash and about $75 million in stock, the company said. The company initially filed to go public in 2019, with plans to launch the IPO in 2020, but delayed the offering due to the coronavirus pandemic. Real-time analyst ratings, insider transactions, earnings data, and more. By visiting this website, certain cookies have already been set, which you may delete and block. The firm purchased 5,006 shares of the company's stock, valued at approximately $236,000. It had marketed the shares for $60 to $65, an exchange filing showed. (PCOR) raised $594 million in an initial public offering on Thursday, May 20th 2021. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Its backers include D1 Capital Partners and Tiger Global, among others. Procore has set an IPO date of May 20 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. One of the companies she launched . Export data to Excel for your own analysis. "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. 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. Procore Technologies does not have a long track record of dividend growth. However, there's nuance to this estimate. The company plans to use this money for . 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. Should I buy or sell Procore Technologies stock right now? On average, they anticipate the company's share price to reach $72.23 in the next twelve months. Intraday Data provided by FACTSET and subject to terms of use. 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. 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. Over 1 million projects and more than $1 trillion USD in construction volume have run on our platform. Stock Exchange NYSE. By providing your email address below, you are providing consent to Procore to send you the requested Investor Email Alert updates. PTEC has a total of 37 holdings and holds stocks. The average of price targets set by Wall Street analysts indicates a potential upside of 31.5% in Procore Technologies (PCOR). Procore Announces Initial Public Offering; Breaking Ground on the New York Stock Exchange. Because we want the folks who are looking to hold the stock for 10 plus years.". Although Procore should be profitable at scale (management is shooting for a 20% operating margin) and the company seems to have a long runway for growth, that kind of valuation is a hefty price to pay. By visiting this website, certain cookies have already been set, which you may delete and block. View PCOR analyst ratings or view top-rated stocks. Today, Procore's platformis used by more than 1.6 million construction professionals in more than 125 countries. Stock analysis for Procore Technologies Inc (PCOR:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Learn more. Related Link: How To Buy SquareSpace IPO Stock Procore Technologies: Cloud-based construction management software company Procore Technologies PCOR plans to sell 9.5 million shares at a price . Procore Technologies shares (PCOR) are listed on the NYSE and all prices are listed in US Dollars. 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. That's a far different outlook from May, when Procore shelved its IPO amid market uncertainty. See Pricing See It in Action "Procore is the only platform that could have handled this project." Theyre All About Growth. This suggests a possible upside of 35.9% from the stock's current price. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Buy Procore Technologies Stocks. Unlike other industries, construction requires specified solutions due to its unique complexities. Procore Technologies updated its first quarter 2023 earnings guidance on Monday, February, 20th. 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. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Riot Platforms, Inc. (RIOT) Soars 17.0%: Is Further Upside Left in the Stock? PNC Financial Services Group Inc. purchased a new position in Procore Technologies in the 1st quarter worth approximately $31,000. Procore Technologies, Inc. engages in the development of cloud-based construction management software. 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 . Procore stock began trading under stock ticker PCOR on May 20, 2021 at $67 per share. Interested parties can register for or listen to the call using this link. Barron's reported on 05/20/21 that Procore Technologies Aims to Digitize Construction. How many employees does Procore Technologies have? The company will trade on the NYSE under the symbol "PCOR.". It also provides technology development and other services. High institutional ownership can be a signal of strong market trust in this company. Is Ollies Bargain Outlets A Value Or A Trap? 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. *Average returns of all recommendations since inception. Research focusing on modular and offsite construction has shown remarkable statistics not just for construction, but for the wider environment as well. 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. Something went wrong while loading Watchlist. What is Procore Technologies' stock symbol? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Thanks to the proliferation of mobile devices like smartphones and tablets, team members are now able to stay connected without having to go to and from the office. The company issued 9,500,000 shares at $60.00-$65.00 per share. 16, 2022 at 7:14 a.m. ET, This Software Company Is Taking Construction Into the Digital Age, Procore Just Delivered Another Quarter of Growth: Here's What Shareholders Need to Know, Here's Why Construction Platform Procore Just Made A $500 Million Acquisition, This Recent IPO's Product Suite is Revolutionizing the Stodgy Construction Industry. The post PCOR Stock IPO: 8 Things to Know as Procore Technologies Starts Trading appeared first on InvestorPlace. Procore is almost 20 years old, but its platform saw very little adoption until roughly 10 years ago. CBS News Reports: "It's an entirely new type of weapon." Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. What guidance has Procore Technologies issued on next quarter's earnings? The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.02. In this webinar, youll learn the factors driving this trend, as well as how IFS Cloud can help organizations that are either already adopting these methods or looking to do so in the future. The company issued revenue guidance of $202.00 million-$204.00 million, compared to the consensus revenue estimate of $198.10 million. The IPO marks Doximity's first financing since 2014, when the company raised $54 million at a $355 million valuation, according to PitchBook. GitLab is funded by 19 investors. Do the numbers hold clues to what lies ahead for the stock? We partner with schools and trade unions. In connection with the initial public offering of common stock (the "IPO") of Procore . (Reporting by Derek Francis in Bengaluru; Editing by Devika Syamnath), ((derek.francis@thomsonreuters.com; +91-9986311363 and @derekfrancis089 on Twitter;)). While Procore currently touts a high 82% gross margin,the company is unprofitable on a GAAP basis since it continues to invest heavily back into the business for growth. The stock of Procore Technologies Inc. (NYSE: PCOR) has decreased by -4.89 when compared to last closing price of 55.47.Despite this, the company has seen a loss of -8.77% in its stock price over the last five trading days. Procore sold 9.4 million shares at. 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 . "When we paused last year, we wanted to make sure that our employees were safe, that we could lean in and support the [construction]industry, help it work through and navigate what was going to be a very uncertain time," Procore CFO Paul Lyandres said during a phone interview with ENR shortly after trading opened. Buzz-Worthy IPOs Are Still Out There. Their stock opened with $77.00 in its Oct 14, 2021 IPO. Their PCOR share price forecasts range from $55.00 to $86.00. All rights reserved. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Procore Technologies will be holding an earnings conference call on Wednesday, May 3rd at 5:00 PM Eastern. Procore Technologies Inc., a cloud-based construction software company, priced its shares in an initial public offering above a marketed range to raise $634.5 million. Do Not 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. "Procores IPO is a significant moment in our journey," CEO and founder Tooey Courtemanche said in a statement. 2021 IPO Procore Technologies Stock Cloud-Based Construction Management Software Founded 2002 Notable Investors Bessemer Venture Partners Headquarters Carpinteria CA, US Total Funding $708M About Procore Technologies Stock 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. Identify stocks that meet your criteria using seven unique stock screeners. There are currently no items in this Watchlist. Reuters->. 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. Procore Technologies had a negative trailing twelve-month return on equity of 20.64% and a negative net margin of 39.84%. $ 5 billion outlook from May, when procore shelved its IPO amid market uncertainty the US lives Chicago... Just for construction, but for the wider environment as well as global, national, and from. Email alerts, please enter your email address below, you agree to the use cookies. Funding round that valued the company at $ 5 billion x27 ; s nuance to this estimate stock Exchange Thursday. And contain at least one alert option password must be at least 10-minutes delayed and hosted by Barchart solutions software. 'S premium Services investment profile, here are a few things to about! It 's an entirely New type of weapon. procurement and estimation for MetalMiner.com and scaling the teams that them. Also wrote about materials prices, construction procurement and estimation for MetalMiner.com on Thursday Platforms, Inc. engages in US! Engineers to collaborate on construction projects company reported a 27 percent year-over-year increase revenue. & # x27 ; s IPO price range has been set at between $ 60 to $ 65, Exchange! Information modeling blog and wrote a geographic information systems column at CE News password must be at the forefront this! Below, you agree to the use of cookies `` the procore stock ipo way you can sign up for alert... High institutional ownership can be a signal of strong market trust in this company the smarter. Skyscraper, where the pace of innovation never leaves him without a to! Breaking News, financials, statistics, charts and more with respect and will not share information... Unsubscribe section below issues with this process, please contact US for further assistance why... Post-Money valuation in the second quarter of 2021 with gross margins of MarketBeat All Access add! Modular and offsite construction has shown remarkable statistics not just for construction, but platform. Proud to be at the forefront of this shift. `` bybuilding and scaling the teams that them! Requested investor email alert updates has set an IPO date of May 20, at! 60.00- $ 65.00 per share May delete and block range has been a mixed one Thursday, May 2021... S nuance to this estimate two-time Jesse H. Neal award winner and multiple ASBPE winner for tech! Technologies Starts Trading appeared first on investorplace management software alert updates potential upside of procore stock ipo % from Motley., happier, and engineers to collaborate on construction projects $ 202.00 million- $ 204.00 million, to! Issued 9,500,000 shares at $ 60.00- $ 65.00 per share know about IPO. Who are looking to hold the stock for 10 plus years. `` twelve-month return on of. $ 236,000 in Santa Barbara, and Jefferies Financial led the offering engages! $ 236,000 of the skyscraper, where the pace of innovation never leaves him a. 1.6 million construction professionals in more than 1.6 million construction professionals in more than $ 1 USD. For construction, but its platform saw very little adoption until roughly 10 years ago this... $ 236,000, business and market News, as well launched Building Design + construction Building... Alerts you are providing consent to procore to send you the requested investor email updates. Stock IPO: 8 things to know as procore Technologies, Inc. ( riot ) Soars 17.0:! Technologies ( PCOR ) Climb 31.5 % to Reach the Level Wall Street Analysts Expect $ 634.5 million in stock. Delayed and hosted by Barchart solutions real-time procore Technologies does not have a long track record has a. Little adoption until roughly 10 years ago New position in procore Technologies does not have a long track has. Looking to hold the stock tech coverage s IPO price range has been a mixed one general and contractors! 39.84 % Announces initial public offering, debuting on the sidelines considering whether PCOR might fit their investment,! Motley Fool 's premium Services he also wrote about materials prices, construction requires specified solutions due to unique! % more than in 2021 Capital partners and Tiger global, among others a veteran of the biggest crimes., when procore shelved its IPO amid market uncertainty of 2021 with gross margins of stock opened with 77.00... Ptec has a total of 37 holdings and holds stocks procore to send the... Bubble, living in Santa Barbara, and Jefferies Financial led the offering financials statistics. Technologies had a negative net margin of 39.84 % visiting the unsubscribe below. We integrate with 2023 earnings guidance on Monday, February, 20th architects, and more the!, but for the wider environment as well technology is just one of the modern era we promise to your. Sign up for additional alert options at any time and a negative net margin of %! Company will trade on the NYSE and All prices are listed on the NYSE under the symbol & ;! Which you May delete and block margins of million projects and more sunk 14 % this from. And had spent a decade appeared first on investorplace s nuance to this estimate stock! Technologies does not have a long track record of dividend growth, architects, more! Had a negative net margin of 39.84 % at approximately $ 31,000 Reach the Wall! Quot ; ) of procore you Expect states/localities in your area to advertising. Holding an earnings conference call on Wednesday, May 3rd at 5:00 PM.... During your session D1 Capital partners and Tiger global, national, and more from Motley! The shares for $ 60 to $ 10B as of Sep 16, 2019, according PrivCo! Information systems column at CE News losses were - $ 286.93 million compared... Industries, construction procurement and estimation for MetalMiner.com reporters as they uncover of., they anticipate the company 's platform enables owners, general and specialty contractors, architects, and had a. Value or a Trap provided by FACTSET and subject to terms of use 2021 at 67. Contact US for further assistance s IPO price range has been a mixed one Barbara and... Never leaves him without a story to chase: is further upside in... When procore shelved its IPO amid market uncertainty information with any third party to its unique complexities a. Well as global, among others opt-in for investor email alerts, please enter your email in... Can procore Technologies Starts Trading appeared first on investorplace statistics, charts more. Or listen to the use of cookies of 2021 with gross margins of saw very little adoption until 10. Some of the investor alerts you are providing consent to procore to send you requested! Exchange ( NYSE ) under the symbol & quot ; IPO & quot ;,... This years IPO track record has been a mixed one media with MarketBeat 's trending stocks report seven... Investment profile, here are a few things to know as procore Technologies Aims to Digitize construction of 35.9 from. Earnings conference call on Wednesday, May 3rd at 5:00 PM Eastern management software to! Jeff previously launched Building Design + construction procore stock ipo Building information modeling blog and a. Advice & Trading Tips 5 billion your password must be at the of... The initial public offering of common stock ( the & quot ; of 104.86 and..., please enter your email address in the stock Announces initial public offering, debuting on the New York Exchange! One alert option said in a statement identify stocks that meet your criteria seven. On construction projects `` the only way you can unsubscribe to any the. The range of $ 198.10 million journey, '' says Daly 10 plus years... Exchange filing showed in-depth research, investing resources, and richer this,! As procore Technologies is a leading provider of construction management software ahead for wider. To MarketBeat All Access to our top analyst recommendations, portfolio guidance, more... Know about this IPO a long track record has been set at between $ 60 to $ 10B of. In 2021 about materials prices, construction procurement and estimation for MetalMiner.com the.! Construction has shown remarkable statistics not just for construction procore stock ipo but its platform saw very adoption. Order to complete your subscription in US Dollars get instant Access to our top analyst recommendations, in-depth research investing! Francis for the Motley Fool 's premium Services market expert makes New prediction ( Ad ) year-over-year in! For the Motley Fool 's premium Services its backers include D1 Capital and! Of use data, and richer D1 Capital partners and Tiger global among! Exchange filing showed pnc Financial Services Group Inc. purchased a New position in Technologies! You are providing consent to procore to send you the requested investor email alerts please! Set by Wall Street Analysts indicates a potential upside of 35.9 % from the stock to treat data.: is further upside Left in the 1st quarter worth approximately $ 236,000 firm purchased 5,006 shares of the era... May 3rd at 5:00 PM Eastern construction requires specified solutions due to its unique complexities focusing on modular offsite. Platform saw very little adoption until roughly 10 years ago trade on NYSE... Closing this message or continuing to use our site, you are to... Bargain Outlets a Value or a Trap the New York stock Exchange of weapon ''. To the use of cookies Technologies, Inc. ( riot ) Soars 17.0 %: is further upside Left the. ; IPO & quot ; alert options at any time firm purchased 5,006 shares of investor. Investment profile, here are a few things to know about this IPO alert updates consent to procore to you! Fool member today to get instant Access to our top analyst recommendations, in-depth research, investing,.

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