Movement Alert|Procore Technologies Intraday Rise 5.25% in Regular Trading, Upgrade Adds to Post-Earnings Momentum

Market Focus
Nov 05

On November 5, Procore Technologies rose 5.25% in Regular Trading, trading at $79.49 per share, with turnover of $281 million.

The clearest catalyst in the latest coverage was a rating upgrade: Loop Capital upgraded Procore Technologies to Buy from Hold and set a $93 price target, reinforcing momentum after the company reported better-than-expected third-quarter results.

Earlier disclosures showed third-quarter adjusted EPS of $0.51 and revenue of $402.3 million, both above consensus, while fourth-quarter revenue guidance of $420 million to $422 million and full-year revenue guidance of $1.557 billion to $1.559 billion also topped expectations. The company additionally authorized a share repurchase program of up to $300 million, and follow-up analyst commentary indicated price-target increases toward $90.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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