Procore Technologies (NYSE:PCOR) Given New $70.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs cut its price target on Procore to $70 (from $80) while keeping a "buy" rating, a level that implies roughly a 32% upside from the current share price.
• Procore's Q1 results showed revenue beat but an EPS miss — revenue rose 15.7% YoY to $359.3M while EPS was $0.34 versus $0.36 expected, and the company still posts negative net margins (-5.61%).
• Analyst sentiment remains generally positive with a consensus target of about $72.56 and ratings of 15 buys, 3 holds and 1 sell, giving an overall "Moderate Buy" view.

Procore Technologies (NYSE:PCOR - Get Free Report) had its target price dropped by The Goldman Sachs Group from $80.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target points to a potential upside of 32.48% from the company's current price.

Other analysts also recently issued research reports about the company. Piper Sandler lowered their target price on Procore Technologies from $79.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group decreased their target price on Procore Technologies from $74.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Procore Technologies in a report on Thursday, January 22nd. Stifel Nicolaus cut their price target on Procore Technologies from $85.00 to $63.00 and set a "buy" rating for the company in a report on Friday, February 13th. Finally, Wall Street Zen cut Procore Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $72.56.

Procore Technologies Stock Performance

Shares of NYSE PCOR traded down $0.12 during trading on Thursday, hitting $52.84. The company had a trading volume of 1,744,808 shares, compared to its average volume of 2,511,627. The stock has a 50 day simple moving average of $55.72 and a 200 day simple moving average of $64.29. The firm has a market capitalization of $7.97 billion, a P/E ratio of -103.92 and a beta of 0.78. Procore Technologies has a 12 month low of $46.08 and a 12 month high of $82.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.32.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Procore Technologies had a negative net margin of 5.61% and a negative return on equity of 2.23%. The business had revenue of $359.28 million for the quarter, compared to analysts' expectations of $352.82 million. During the same quarter in the previous year, the firm earned $0.23 EPS. Procore Technologies's revenue was up 15.7% compared to the same quarter last year. As a group, analysts anticipate that Procore Technologies will post 0.09 earnings per share for the current year.

Insider Activity

In other news, insider Benjamin C. Singer sold 4,225 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total transaction of $211,250.00. Following the completion of the sale, the insider directly owned 64,660 shares in the company, valued at $3,233,000. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $47.64, for a total transaction of $2,673,652.08. Following the completion of the transaction, the chairman directly owned 927,580 shares in the company, valued at $44,189,911.20. This represents a 5.71% decrease in their position. 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. Insiders sold 148,026 shares of company stock worth $7,783,734 over the last ninety days. Corporate insiders own 16.80% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank raised its holdings in Procore Technologies by 0.4% during the first quarter. Swiss National Bank now owns 223,000 shares of the company's stock worth $12,711,000 after purchasing an additional 900 shares in the last quarter. Roubaix Capital LLC grew its position in Procore Technologies by 54.6% in the first quarter. Roubaix Capital LLC now owns 72,754 shares of the company's stock worth $4,147,000 after buying an additional 25,687 shares during the last quarter. California Public Employees Retirement System grew its position in Procore Technologies by 11.8% in the first quarter. California Public Employees Retirement System now owns 172,932 shares of the company's stock worth $9,857,000 after buying an additional 18,184 shares during the last quarter. Assetmark Inc. grew its position in Procore Technologies by 0.6% in the first quarter. Assetmark Inc. now owns 129,017 shares of the company's stock worth $7,354,000 after buying an additional 778 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Procore Technologies by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 450,246 shares of the company's stock worth $25,664,000 after buying an additional 31,970 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Key Headlines Impacting Procore Technologies

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

• Positive Sentiment: Q1 showed revenue growth and a narrower loss vs. last year, and management added an AI board appointment — news that fueled a sharp intraday rally and renewed investor interest. Why Procore Technologies (PCOR) Is Up 11.6% After Narrower Losses And New AI Board Appointment - And What's Next
• Positive Sentiment: BTIG reaffirmed a "buy" rating with a $66 target, signaling continued analyst conviction in revenue growth and product positioning in construction software. BTIG Reaffirms Buy on PCOR
• Neutral Sentiment: UBS lowered its price target from $74 to $68 but kept a "buy" rating — the cut trims upside but stops short of changing the bullish view. Procore Technologies NYSE: PCOR Given New $68.00 Price Target at UBS Group
• Neutral Sentiment: Piper Sandler reduced its target to $71 while maintaining an "overweight" rating, another sign analysts still see meaningful upside despite trimming near‑term expectations. Piper Sandler Lowers Price Target on PCOR
• Neutral Sentiment: Full Q1 earnings call transcript and analyst write‑ups provide more detail on margins, product adoption and cloud subscription trends for investors doing deeper due diligence. Procore Q1 2026 Earnings Call Transcript
• Negative Sentiment: PCOR missed EPS (reported $0.34 vs. $0.36 expected) and still posts negative net margins and ROE, leaving profitability concerns and making the stock sensitive to near‑term execution. That earned an initial sell reaction even as revenue beat. Procore Technologies NYSE: PCOR Beats Q1 CY2026 Sales Expectations But Stock Drops

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.

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