PCOR

Procore Technologies Inc

TMT, Software


Presented:06/13/2024
Price:$66.63
Cap:$9.75B
Current Price:$62.84
Cap:$9.28B

Presented

Date06/13/2024
Price$66.63
Market Cap$9.75B
Ent Value$11.29B
P/E RatioN/A
Book Value$8.16
Div Yield0%
Shares O/S146.33M
Ave Daily Vol1,304,750
Short Int7.64%

Current

Price$62.84
Market Cap$9.28B
Procore Technologies, Inc. engages in the development of cloud-based construction management software. The company was founded by Craig F. Courtemanche, Jr. and Steven C. Zahm in 2002 and is headquartered in Carpinteria, CA.

Publicly traded companies mentioned herein: Autodesk Inc (ADSK), Procore Technologies Inc (PCOR)

Highlights

The presenter is long shares of Procore Technologies Inc (PCOR), which he views as a category killer with lots of greenfield opportunities in the construction management software industry. Despite positive developments at the company, the stock has been under pressure primarily due to concerns about the construction cycle, which has caused the valuation to contract and created an attractive entry point for investors. He is well ahead of consensus FCF over the next few years, and at $67 per share PCOR is trading sub-30x his 2025 FCF and sub-20x his 2026 FCF. As the company outperforms expectations, he sees major upside from revisions and multiple expansion. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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