Procore Technologies PCOR shares ended the last trading session 5% higher at $73.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.9% gain over the past four weeks.
Procore Technologies is benefiting from strong customer adoption of its AI-driven innovations, platform unification, and go-to-market transition, driving efficient growth and increased cross-sell opportunities.
This construction management software is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +29.2%. Revenues are expected to be $327.29 million, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Procore Technologies, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PCOR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Procore Technologies is a member of the Zacks Internet - Software industry. One other stock in the same industry, D-Wave Quantum Inc. QBTS, finished the last trading session 7.2% higher at $27.52. QBTS has returned 70.9% over the past month.
For D-WAVE QUANTUM, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. This represents a change of +36.4% from what the company reported a year ago. D-WAVE QUANTUM currently has a Zacks Rank of #3 (Hold).
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Procore Technologies, Inc. (PCOR): Free Stock Analysis Report D-Wave Quantum Inc. (QBTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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