A Look Back at Design Software Stocks' Q1 Earnings: Procore Technologies (NYSE:PCOR) Vs The Rest Of The Pack [Yahoo! Finance]
Procore Technologies, Inc. (PCOR)
Company Research
Source: Yahoo! Finance
Today, we are looking at design software stocks, starting with Procore Technologies (NYSE:PCOR). The demand for rich, interactive 2D, 3D, VR and AR experiences is growing, and while the ubiquitous metaverse might still be more of a buzzword than a real thing, what is real is the demand for the tools to create these experiences, whether they are games, 3D tours or interactive movies. The 7 design software stocks we track reported a weak Q1; on average, revenues were in line with analyst consensus estimates. while next quarter's revenue guidance was 4% below consensus. Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 due to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, and design software stocks have had a rough stretch, with share prices down 6.8% on average since the previous earnings results. Procore Technologies (NYSE:PCO
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PCOR
News
- Q1 Design Software Earnings: Unity (NYSE:U) Earns Top Marks [Yahoo! Finance]Yahoo! Finance
- An Intrinsic Calculation For Procore Technologies, Inc. (NYSE:PCOR) Suggests It's 32% Undervalued [Yahoo! Finance]Yahoo! Finance
- Procore Unveils Latest Product Advancements at Innovation Summit 2024 [Yahoo! Finance]Yahoo! Finance
- Procore Technologies, Inc. (NYSE: PCOR) is now covered by analysts at TD Cowen. They set a "buy" rating and a $85.00 price target on the stock.MarketBeat
- Procore Unveils Latest Product Advancements at Innovation Summit 2024Business Wire
PCOR
Earnings
- 5/1/24 - Beat
PCOR
Sec Filings
- 6/18/24 - Form 4
- 6/14/24 - Form 144
- 6/13/24 - Form 4
- PCOR's page on the SEC website