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Procore Technologies , Inc. (NYSE:PCOR), a $10.1 billion market cap company with impressive gross profit margins of 81%, has seen recent stock transactions from its CFO and Treasurer, Howard Fu. According to a recent SEC filing, Fu sold 797 shares of Procore’s common stock on May 21, 2025, at a price of $68.99 per share. InvestingPro analysis indicates the company maintains a strong balance sheet, holding more cash than debt. This sale was executed under a pre-existing 10b5-1 plan, totaling $54,985.
In addition to this sale, Fu had 7,202 shares withheld by Procore on May 20, 2025, to cover tax obligations related to the vesting of restricted stock units, valued at $69.94 per share. Following these transactions, Fu’s direct ownership stands at 199,067 shares.
In other recent news, Procore Technologies reported its first-quarter 2025 earnings, surpassing market expectations. The company achieved a non-GAAP earnings per share of $0.23, outperforming the consensus estimate of $0.18. Revenue for the quarter reached $311 million, exceeding expectations of $302.6 million and marking a 15% year-over-year increase. The company’s calculated remaining performance obligations (cRPO) came in at $842.6 million, surpassing the consensus of $811.0 million, and total remaining performance obligations (RPO) stood at $1.290 billion, showcasing a 28% year-over-year rise.
Despite these strong financial results, Stifel analysts reduced their price target for Procore Technologies to $75 while maintaining a Buy rating. Meanwhile, Citizens JMP reaffirmed its Market Outperform rating with a $95 price target, reflecting confidence in Procore’s market position and future prospects. The company provided second-quarter fiscal year 2025 guidance below consensus but expressed confidence in meeting full-year revenue targets, even in a challenging demand environment.
Procore’s management highlighted the company’s focus on AI-driven innovation and platform integration as part of its strategy for long-term growth. The company is optimistic about its ability to navigate industry uncertainties and maintain profitability. Management also discussed the impact of tariffs, noting no significant changes in customer behavior and emphasizing their readiness to adapt strategies to optimize free cash flow and margins.
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