Last Updated: 18 Sep 2024
Executive Summary
Procore Technologies Inc. (PCOR) is a leading provider of cloud-based construction management software. The company has a strong track record of growth, with revenue increasing by 24.4% year-over-year in the latest quarter. However, the company is currently unprofitable, with a trailing twelve-month EBITDA loss of $74.1 million. The stock is currently trading at a forward PE of 40.98x, which is above the industry average.
Company Overview
Procore Technologies was founded in 2002 and is headquartered in Carpinteria, California. The company's software platform is used by construction companies to manage projects, collaborate with team members, and track progress. Procore has over 1 million users and serves over 10,000 customers in over 100 countries.
Fundamental Analysis
Procore Technologies is a high-growth company with a strong competitive position. The company's software platform is a critical tool for construction companies, and Procore has a large and growing customer base. However, the company is currently unprofitable, and it is unclear when it will become profitable. The stock is also trading at a premium to the industry average, which makes it less attractive to value investors.
Technical Analysis
The technical analysis of Procore Technologies is mixed. The stock is currently trading below its 50-day and 200-day moving averages, which is a bearish sign. However, the stock has recently formed a bullish pattern, which suggests that it could be ready to move higher.
Short Term Outlook
The short-term outlook for Procore Technologies is uncertain. The stock is currently trading in a range between $55 and $60, and it is unclear which way it will break out. If the stock breaks out above $60, it could move higher towards its analyst target price of $64.14. However, if the stock breaks out below $55, it could fall further towards its 52-week low of $48.11.
Long Term Outlook
The long-term outlook for Procore Technologies is positive. The company is a leader in a growing market, and it has a strong competitive position. However, the company is currently unprofitable, and it is unclear when it will become profitable. Investors should be aware of the risks associated with investing in Procore Technologies before making a decision.
Analyst Recommendations
The majority of analysts have a buy rating on Procore Technologies. The average analyst target price is $64.14, which represents a potential upside of 11.7% from the current price.
