Procore Technologies (NYSE:PCOR) Price Target Cut to $68.00 by Analysts at UBS Group

Procore Technologies (NYSE:PCOR) had its price objective dropped by UBS Group from $74.00 to $68.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 28.07% from the stock’s previous close.

Several other research firms have also recently weighed in on PCOR. DA Davidson lowered their price target on shares of Procore Technologies from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. BMO Capital Markets lowered their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. BTIG Research reissued a “buy” rating and issued a $66.00 price target on shares of Procore Technologies in a report on Wednesday. The Goldman Sachs Group lowered their price target on shares of Procore Technologies from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, KeyCorp lowered their price target on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $72.88.

Procore Technologies Price Performance

Shares of PCOR traded down $1.60 during mid-day trading on Wednesday, hitting $53.09. 4,929,597 shares of the company traded hands, compared to its average volume of 2,519,195. Procore Technologies has a one year low of $46.08 and a one year high of $82.32. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $55.64 and a 200 day moving average of $64.41. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of -79.24 and a beta of 0.78.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $359.28 million during the quarter, compared to the consensus estimate of $352.82 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, equities analysts expect that Procore Technologies will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Connor Kevin J. O sold 5,769 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $51.07, for a total value of $294,622.83. Following the completion of the sale, the director directly owned 990,983 shares in the company, valued at approximately $50,609,501.81. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $47.64, for a total transaction of $2,673,652.08. Following the completion of the sale, the chairman owned 927,580 shares of the company’s stock, valued at approximately $44,189,911.20. The trade was a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 148,026 shares of company stock worth $7,783,734. Corporate insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PCOR. Vanguard Group Inc. boosted its position in shares of Procore Technologies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock worth $957,150,000 after acquiring an additional 804,920 shares in the last quarter. Alliancebernstein L.P. increased its stake in Procore Technologies by 493.9% in the third quarter. Alliancebernstein L.P. now owns 6,107,945 shares of the company’s stock valued at $445,391,000 after acquiring an additional 5,079,534 shares during the last quarter. Wasatch Advisors LP increased its stake in Procore Technologies by 6.8% in the third quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock valued at $362,560,000 after acquiring an additional 315,604 shares during the last quarter. Wellington Management Group LLP increased its stake in Procore Technologies by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 3,539,062 shares of the company’s stock valued at $257,431,000 after acquiring an additional 137,171 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Procore Technologies by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company’s stock valued at $249,416,000 after acquiring an additional 127,256 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

More Procore Technologies News

Here are the key news stories impacting Procore Technologies this week:

• Positive Sentiment: Company reported revenue of $359.3M (up 15.7% YoY) and said Q1 performance exceeded the high end of guidance, enabling management to raise its full‑year outlook — a key reason for investor confidence. Read More.
• Positive Sentiment: Analyst support remains constructive: BTIG reaffirmed a “buy” and $66 price target, while Piper Sandler kept an “overweight” rating despite trimming its target to $71 — both imply upside from current levels and can help stabilize the stock. Read More. Read More.
• Positive Sentiment: Market reaction included an earlier intraday rally after reports of narrower losses and appointment of an AI-focused board member, signaling investor enthusiasm around Procore’s AI strategy and margin progress. Read More.
• Neutral Sentiment: Revenue details: Q1 revenue beat consensus ($359.3M vs ~$352.8M), showing steady top‑line growth — supports longer‑term SaaS story but doesn’t fully remove near‑term margin/earnings questions. Read More.
• Negative Sentiment: Earnings per share missed estimates: reported $0.34 vs. consensus $0.36, a small miss that investors penalized given the high expectations for margin improvement. Read More. Read More.
• Negative Sentiment: Near‑term guidance is mixed: Q2 revenue was guided to roughly $364–$366M, slightly below the consensus midpoint, and EPS guidance details were light — this soft near‑term outlook is weighing on the shares. Read More.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.