Procore Technologies is a leading provider of construction management software designed to streamline project communication and efficiency in the building industry
The platform offers a comprehensive suite of tools that facilitate collaboration among project teams, including functionalities for project scheduling, budgeting, document management, and field management. By centralizing project data and improving real-time communication, Procore aims to enhance productivity, reduce risk, and ultimately transform the way construction projects are planned and executed. The company's solutions cater to a variety of stakeholders in the construction sector, including general contractors, subcontractors, and owners, helping them achieve better visibility and control over their construction projects.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Toast (NYSETOST) and the rest of the vertical software stocks fared in Q3.
Procore’s 15.4% return over the past six months has outpaced the S&P 500 by 6.6%, and its stock price has climbed to $76.36 per share. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the design software industry, including Procore (NYSEPCOR) and its peers.
Construction management software maker Procore (NYSEPCOR) announced better-than-expected revenue in Q3 CY2024, with sales up 19.4% year on year to $295.9 million. On the other hand, next quarter’s revenue guidance of $297 million was less impressive, coming in 1.3% below analysts’ estimates. Its non-GAAP profit of $0.24 per share was also 9.4% above analysts’ consensus estimates.
