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In a recent transaction involving Procore Technologies , Inc. (NYSE:PCOR), ICONIQ Strategic Partners reported selling shares valued at $110,453. The sales occurred on February 19 and 20, 2025, with prices ranging from $82.93 to $87.4 per share. The transaction prices align with PCOR’s current market performance, as the stock trades near its 52-week high of $88.92, having gained nearly 40% over the past six months. These transactions were part of a broader series of distributions and sales by ICONIQ entities, which included various distributions of shares for no consideration among their partners. As a result of these transactions, the reporting entities now hold different amounts of Procore Technologies’ common stock. The company maintains impressive gross profit margins of 82.2% and has received significant analyst attention, with a consensus target price ranging from $71 to $110. InvestingPro subscribers can access 8 additional key insights about PCOR’s financial health and growth prospects.
In other recent news, Procore Technologies reported its fourth-quarter earnings, revealing a mixed financial performance. The company achieved revenue of $302 million, surpassing the forecast of $297.43 million, marking a 16% year-over-year increase. However, Procore’s earnings per share (EPS) came in at $0.01, which was below the expected $0.11. Despite the EPS miss, Procore raised its full-year revenue guidance to $1.285-$1.290 billion, indicating a 12% growth. Analyst firms have responded positively to Procore’s performance, with JMP Securities raising its price target to $95 and KeyBanc Capital Markets increasing it to $96, both maintaining optimistic ratings.
JMP Securities noted Procore’s calculated remaining performance obligations (cRPO) at $829.7 million, surpassing the consensus estimate and reflecting a 19% year-over-year growth. KeyBanc highlighted Procore’s strong sales execution and the successful transition in its go-to-market strategy. The company’s strategic initiatives, including new product launches and AI investments, have been emphasized as contributing factors to its robust revenue growth. These developments underscore Procore’s ongoing efforts to strengthen its market position and financial health.
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