On August 14, Procore Technologies rose 6.3% in regular trading, trading at $61.61/share, with turnover of $148 million.

On the news front, the company recently announced a proposed $750 million convertible senior notes private offering due 2031, with proceeds earmarked to fund a portion of the cash consideration for its DroneDeploy acquisition, pay the cost of capped call transactions, repurchase up to $175 million of shares, and support general corporate purposes. The initial purchasers may also be granted an option to purchase up to an additional $112.5 million of notes.

Additionally, Procore reported strong Q2 results on July 29, with adjusted EPS of $0.47 beating the consensus estimate of $0.42 by approximately 12%, and revenue of $375.2 million exceeding the $365.8 million estimate. The company guided fiscal 2026 revenue to $1.510-$1.514 billion, above the FactSet consensus of $1.50 billion. The combination of better-than-expected earnings and the strategic DroneDeploy acquisition, which is expected to expand data capture capabilities in the construction technology ecosystem, continues to support the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)