Topic: How To Invest

Q: Hi, Pat and team. I have seen some interesting industry comments on Procore Technologies lately. What’s your view on this stock as a buy? Thanks in advance.

Article Excerpt

A: Procore Technologies Inc., $62.68, symbol PCOR on New York (Shares outstanding: 142.4 million; Market cap: $8.9 billion; is a leading provider of cloud-based construction management software. Procore’s software platform aims to let all parties in a construction project communicate with each other online, share data and programs that are stored on remote servers, and manage their workflows more effectively. The software has four product categories: Preconstruction, Project Management, Resources Management, and Financial Management. Procure has more than 15,704 customers who use those offerings. The company went public on May 19, 2021, selling 10.41 million shares at $67 a share. It raised $665.1 million in net proceeds. The stock gained 31% on its first day as a public company but has now dropped below the IPO price. On November 3, 2021, Procore completed the acquisition of Levelset, a New Orleans-based construction software company. It paid $425 million in cash and $75 million in stock for the Louisiana firm. This was its first…