Look Under The Hood: FXL Has 12% Upside
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 27 2024
0mins
Should l Buy PCOR?
Source: NASDAQ.COM
- Underlying Holdings Analysis: ETF Channel compared trading prices of holdings against average analyst 12-month forward target prices to calculate weighted average implied analyst target price for First Trust Technology AlphaDEX Fund ETF (FXL).
- Implied Analyst Target Price: Implied analyst target price for FXL is $151.08 per unit, with a recent trading price near $134.43 per unit, indicating 12.39% upside according to analysts.
- Notable Upside Holdings: Three holdings in FXL show notable upside potential: Dun & Bradstreet Holdings Inc (DNB), Procore Technologies Inc (PCOR), and Confluent Inc (CFLT).
- Analyst Target Prices: DNB has a 54.66% higher target price, PCOR has 28.77% upside, and CFLT is expected to reach a target price 23.41% above the recent price.
- Investor Considerations: Questions arise about analyst justifications for targets, optimism, relevance to recent developments, and the need for further investor research.
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Analyst Views on PCOR
Wall Street analysts forecast PCOR stock price to rise
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 47.880
Low
70.00
Averages
87.83
High
95.00
Current: 47.880
Low
70.00
Averages
87.83
High
95.00
About PCOR
Procore Technologies, Inc. is a technology company. The Company is a global provider of cloud-based construction management software. The Company's unified technology platform leverages artificial intelligence (AI) and data-driven insights and decision making. The Company's platform is modernizing and digitizing construction management by enabling access to project information, simplifying complex workflows, and facilitating communication among relevant stakeholders. Its core customers are owners, general contractors, and specialty contractors operating across the residential and non-residential segments of the construction industry. Its solutions include Preconstruction, Project Execution, Resource Management, Financial Management, and Procore Helix. Its Preconstruction solutions include Tender Management, BIM, and Estimating. Its Project Execution solutions include Project Management, and Quality and Safety. Its Procore Helix solutions include Analytics, Assist, and Insights.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Narrowed Annual Net Loss: Procore reduced its full-year net loss for 2024 by 4.9% to $100.78 million, while revenues increased by 13% year-on-year to $1.3 billion, showcasing the company's strong recovery in the market.
- Impressive Q4 Results: In the fourth quarter, net loss decreased by 40% to $37.6 million, with revenues rising by 15.56% to $349 million, indicating significant improvements in profitability and revenue growth.
- Future Growth Targets: Procore aims for a 13% year-on-year revenue increase in 2026, targeting a range of $1.489 billion to $1.494 billion, with first-quarter revenues expected between $351 million and $353 million, demonstrating the company's confidence and market potential.
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- Buy Rating Maintained: Following the model update, TD Cowen maintains a 'Buy' rating on Procore, acknowledging the firm's solid core execution and margin expansion, suggesting potential upside in the stock price.
- Competitor Adjustments: DA Davidson and Mizuho have lowered their price targets for Procore to $55, indicating differing market perspectives on the company's outlook, which could impact investor confidence and stock volatility.
- Market Reaction Analysis: Despite some firms reducing their price targets, Procore's core execution and margin expansion remain favorable, with analysts generally believing the company possesses strong competitive advantages in the current market environment, potentially attracting more investor interest.
See More
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- Core Inflation Eases: Core inflation, excluding food and energy, decreased from 2.7% to 2.5%, the lowest since March 2021, which could influence investor expectations regarding future interest rate policies and subsequently affect stock market performance.
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- Earnings Beat: Despite the revenue drop, Coinbase's adjusted earnings per share were 66 cents, surpassing the Street consensus estimate of 64 cents, demonstrating the company's strong performance in cost management and operational efficiency.
- Stock Price Surge: Coinbase shares jumped 13% to $159.44 on Friday, reflecting investor confidence in the company's profitability, even though overall revenue fell short of expectations.
- Market Environment Impact: The broader U.S. stock market declined, with the Dow Jones falling around 0.2% on Friday, indicating macroeconomic pressures on tech stocks that may affect Coinbase's future market performance.
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- Earnings Beat: Procore Technologies reported a Q4 non-GAAP EPS of $0.37, beating expectations by $0.01, which underscores the company's robust profitability in the construction software sector and boosts investor confidence.
- Significant Revenue Growth: The company achieved Q4 revenue of $349.11 million, reflecting a 15.6% year-over-year increase and surpassing expectations by $8.35 million, indicating Procore's continued market share expansion amid rising demand.
- Q1 2026 Outlook: Procore anticipates Q1 2026 revenue in the range of $351 million to $353 million, representing a year-over-year growth of 13% to 14%, with a non-GAAP operating margin expected between 14% and 15%, reflecting confidence in future growth.
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See More
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- Revenue Growth Expectations: The anticipated revenue for Q4 is $340.76 million, representing a 12.8% year-over-year growth, which underscores Procore's ongoing expansion in the construction management software market and robust demand.
- Historical Performance: Over the past two years, Procore has beaten EPS estimates 88% of the time and revenue estimates 100% of the time, demonstrating strong performance stability and market confidence.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen one upward revision and two downward adjustments, while revenue estimates experienced two upward revisions and one downward adjustment, indicating some volatility in market expectations for Procore's future performance.
See More
Procore Technologies Stock Surges After Strong Earnings Report
- Performance Bounce: Procore Technologies saw its stock surge 9.31% on Friday, closing at $52.34 per share, reflecting the company's stellar earnings report from last year and a double-digit growth outlook for 2026.
- Narrowed Annual Net Loss: Procore reduced its full-year net loss for 2024 by 4.9% to $100.78 million, while revenues increased by 13% year-on-year to $1.3 billion, showcasing the company's strong recovery in the market.
- Impressive Q4 Results: In the fourth quarter, net loss decreased by 40% to $37.6 million, with revenues rising by 15.56% to $349 million, indicating significant improvements in profitability and revenue growth.
- Future Growth Targets: Procore aims for a 13% year-on-year revenue increase in 2026, targeting a range of $1.489 billion to $1.494 billion, with first-quarter revenues expected between $351 million and $353 million, demonstrating the company's confidence and market potential.
See More
TD Cowen Raises Procore Price Target to $85, Maintains Buy Rating
- Price Target Increase: TD Cowen raised Procore's (PCOR) price target from $80 to $85, reflecting the company's strong Q4 performance and guidance, indicating market confidence in its future growth potential.
- Buy Rating Maintained: Following the model update, TD Cowen maintains a 'Buy' rating on Procore, acknowledging the firm's solid core execution and margin expansion, suggesting potential upside in the stock price.
- Competitor Adjustments: DA Davidson and Mizuho have lowered their price targets for Procore to $55, indicating differing market perspectives on the company's outlook, which could impact investor confidence and stock volatility.
- Market Reaction Analysis: Despite some firms reducing their price targets, Procore's core execution and margin expansion remain favorable, with analysts generally believing the company possesses strong competitive advantages in the current market environment, potentially attracting more investor interest.
See More
Wall Street Rebounds as Inflation Data Surprises
- Inflation Data Decline: The annual inflation rate fell from 2.7% to 2.4% in January, undershooting the expected 2.5%, marking the lowest level since May 2025, indicating a potential economic slowdown that may prompt the Fed to consider interest rate cuts, thus impacting market liquidity.
- Core Inflation Eases: Core inflation, excluding food and energy, decreased from 2.7% to 2.5%, the lowest since March 2021, which could influence investor expectations regarding future interest rate policies and subsequently affect stock market performance.
- Small Caps Lead Gains: The Russell 2000 index rose nearly 1.8%, outperforming large-cap stocks, reflecting increased investor confidence in small businesses and potentially indicating optimism about economic recovery.
- Rivian Stock Surge: Rivian Automotive Inc. shares jumped 27%, marking the strongest day in the company's history, after reporting a narrower-than-expected quarterly loss, which may attract more investor interest in the electric vehicle market.
See More
Coinbase Reports Q4 Revenue Decline of 5%
- Revenue Decline: Coinbase reported total Q4 revenue of $1.78 billion, down 5% quarter-over-quarter, missing the Street consensus estimate of $1.85 billion, indicating potential market demand weakness that could impact future growth.
- Earnings Beat: Despite the revenue drop, Coinbase's adjusted earnings per share were 66 cents, surpassing the Street consensus estimate of 64 cents, demonstrating the company's strong performance in cost management and operational efficiency.
- Stock Price Surge: Coinbase shares jumped 13% to $159.44 on Friday, reflecting investor confidence in the company's profitability, even though overall revenue fell short of expectations.
- Market Environment Impact: The broader U.S. stock market declined, with the Dow Jones falling around 0.2% on Friday, indicating macroeconomic pressures on tech stocks that may affect Coinbase's future market performance.
See More
Procore Technologies Q4 Earnings Exceed Expectations
- Earnings Beat: Procore Technologies reported a Q4 non-GAAP EPS of $0.37, beating expectations by $0.01, which underscores the company's robust profitability in the construction software sector and boosts investor confidence.
- Significant Revenue Growth: The company achieved Q4 revenue of $349.11 million, reflecting a 15.6% year-over-year increase and surpassing expectations by $8.35 million, indicating Procore's continued market share expansion amid rising demand.
- Q1 2026 Outlook: Procore anticipates Q1 2026 revenue in the range of $351 million to $353 million, representing a year-over-year growth of 13% to 14%, with a non-GAAP operating margin expected between 14% and 15%, reflecting confidence in future growth.
- Full Year Projections: The company expects full-year 2026 revenue between $1.489 billion and $1.494 billion, a 13% year-over-year increase, with a non-GAAP operating margin projected between 17.5% and 18%, demonstrating Procore's commitment to long-term growth strategies.
See More
Procore Technologies Set to Announce Q4 Earnings on February 12
- Earnings Announcement Schedule: Procore Technologies (PCOR) is set to announce its Q4 earnings on February 12 after market close, with a consensus EPS estimate of $0.36, reflecting a staggering 3500% year-over-year increase, indicating a significant enhancement in profitability.
- Revenue Growth Expectations: The anticipated revenue for Q4 is $340.76 million, representing a 12.8% year-over-year growth, which underscores Procore's ongoing expansion in the construction management software market and robust demand.
- Historical Performance: Over the past two years, Procore has beaten EPS estimates 88% of the time and revenue estimates 100% of the time, demonstrating strong performance stability and market confidence.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen one upward revision and two downward adjustments, while revenue estimates experienced two upward revisions and one downward adjustment, indicating some volatility in market expectations for Procore's future performance.
See More
