Procore Technologies (NYSE:PCOR) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised its price target on Procore from $68 to $90 and reiterated its Overweight rating, implying about 19% upside from the previous close.
• Procore reported quarterly EPS of $0.51, topping estimates of $0.46, and revenue of $402.3 million versus expectations of $384.4 million. Revenue grew 18.7% year over year.
• Shares were reported up 19.7% on Thursday, while analyst sentiment was broadly positive: the stock had a Moderate Buy consensus rating and an average price target of $76.19.

Procore Technologies (NYSE:PCOR - Get Free Report) had its price target boosted by research analysts at Piper Sandler from $68.00 to $90.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price indicates a potential upside of 19.02% from the company's previous close.

A number of other research analysts have also issued reports on the stock. Mizuho set a $68.00 price objective on shares of Procore Technologies in a report on Wednesday. Barclays upped their price target on Procore Technologies from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. BTIG Research increased their target price on shares of Procore Technologies from $66.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings raised shares of Procore Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, October 23rd. Finally, UBS Group upped their target price on Procore Technologies from $68.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $76.19.

Procore Technologies Trading Up 19.7%

NYSE:PCOR opened at $75.62 on Thursday. Procore Technologies has a 1 year low of $38.03 and a 1 year high of $82.32. The stock has a market capitalization of $11.49 billion, a P/E ratio of -328.75 and a beta of 0.75. The firm has a 50 day moving average of $56.99 and a 200-day moving average of $53.40.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. Procore Technologies had a negative net margin of 2.31% and a positive return on equity of 2.59%. The firm had revenue of $402.31 million for the quarter, compared to analysts' expectations of $384.38 million. During the same period last year, the firm earned $0.42 earnings per share. The business's revenue for the quarter was up 18.7% on a year-over-year basis. As a group, analysts forecast that Procore Technologies will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, Chairman Craig Courtemanche, Jr. sold 56,122 shares of the business's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $56.19, for a total transaction of $3,153,495.18. Following the completion of the sale, the chairman owned 908,316 shares in the company, valued at approximately $51,038,276.04. The trade was a 5.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Fred Fleming, Jr. sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $58.95, for a total value of $589,500.00. Following the sale, the senior vice president directly owned 104,981 shares of the company's stock, valued at approximately $6,188,629.95. This represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 206,885 shares of company stock worth $11,601,918. 16.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Procore Technologies

Several large investors have recently added to or reduced their stakes in PCOR. BlackRock Inc. acquired a new position in Procore Technologies in the second quarter worth approximately $300,345,000. Deutsche Bank AG bought a new position in Procore Technologies during the 2nd quarter worth $114,444,000. Assenagon Asset Management S.A. boosted its stake in Procore Technologies by 95.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,398,163 shares of the company's stock worth $178,653,000 after acquiring an additional 2,146,182 shares in the last quarter. Bamco Inc. NY bought a new position in shares of Procore Technologies in the second quarter valued at approximately $62,116,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Procore Technologies by 158.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,020,531 shares of the company's stock worth $115,170,000 after purchasing an additional 1,240,247 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Procore Technologies

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

• Positive Sentiment: Procore reported Q3 adjusted earnings of $0.51 per share, above estimates of about $0.45–$0.46, and revenue of $402.3 million versus expectations near $384 million. Revenue grew 18.7% year over year, and management said revenue and margins exceeded the high end of its guidance. Procore AI’s digital coworkers also became generally available. Procore Q3 2026 results
• Positive Sentiment: Loop Capital upgraded PCOR from Hold to Buy and set a $93 price target. Stifel raised its target to $85, while BTIG lifted its target to $90, reinforcing a generally more constructive analyst outlook. Loop Capital rating Stifel price target BTIG price target
• Neutral Sentiment: JPMorgan raised its price target from $69 to $74 and maintained an Overweight rating, though the new target was below the $75.62 reference price in the report. JPMorgan rating
• Neutral Sentiment: A director sold 7,692 shares under a pre-arranged Rule 10b5-1 plan, reducing his position by 0.85%; he retained more than 900,000 shares. The planned nature and small size of the sale may limit its significance. Director stock sale

Procore Technologies Company Profile

Procore Technologies, Inc provides cloud-based construction management software through its Procore platform. The company's technology is designed to connect owners, general and specialty contractors, architects, engineers and other construction professionals throughout the project lifecycle.

Procore's products and services support preconstruction planning, project management, financial management, quality and safety programs, workforce management, construction intelligence and collaboration.

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