Procore Technologies

PCOR · NYSE

$60.73+$2.72 (+4.69%)TodayMarket closed · Oct 20, 6:32 PM ET

Prev close $58.01

PCOR analyst rating

BuyConsensus of 17 analysts over the last 12 months. 94% rate it a buy.

Strong buy0
Buy16
Hold1
Underperform0
Sell0

12-month price target · 25 analysts

Average $69.51 (+14.5% upside)

Low: $55.55
Now: $60.73
High: $92.40

Upgrades and downgrades

The latest rating actions, newest first

PCOR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 16, 2026	Maintains	Overweight	$65.00 → $70.00	50%
Barclays	Oct 12, 2026	Maintains	Overweight	$60.00 → $62.00	66%
Cantor Fitzgerald	Oct 5, 2026	Maintains	Overweight	$65.00	50%
Piper Sandler	Sep 28, 2026	Initiates	Overweight	$68.00	73%
Cantor Fitzgerald	Sep 15, 2026	Initiates	Overweight	$65.00	50%
Barclays	Aug 3, 2026	Maintains	Overweight	$50.00 → $60.00	66%
UBS	Jul 31, 2026	Maintains	Buy	$68.00 → $75.00	48%
Piper Sandler	Jul 31, 2026	Maintains	Overweight	$71.00 → $68.00	41%
TD Cowen	Jul 28, 2026	Maintains	Buy	$70.00 → $60.00	78%
BTIG	Jul 24, 2026	Maintains	Buy	$66.00	61%

The case for and against

Updated Oct 14, 2026

Bull case

Procore Technologies is well positioned because it leads a vertically focused construction management platform with durable competitive advantages, strong network effects, and a system-of-record role that is becoming a system of intelligence through Procore AI. Its large, under-penetrated TAM still leaves meaningful room for expansion, with international revenue at about 15% of 2025 revenue versus roughly 50% of TAM, and customer stickiness is underscored by 95% gross retention and 106% net retention. Growth is supported by multiple levers—upmarket and owner penetration, specialty contractor wallet-share gains, and margin expansion from a 14% adjusted operating margin in 2025 toward 25% in 2027—while FCF/share is estimated to compound at about 40% through 2028.

Bear case

Procore Technologies is exposed to a highly cyclical construction market, making its growth more vulnerable than most software peers when macro conditions weaken. The company’s customer base is skewed toward general contractors, with US GCs driving roughly half of ARR and US enterprise GCs about 31%, yet small contractors are often too small to support large $1m+ ARR relationships, leaving only six such SC customers versus 49 GCs. Competitive pressure, slower pipeline generation from a renewed go-to-market model, margin underperformance, and leadership changes add further execution risk, while construction unemployment rising to 4.7% in June underscores a softer operating backdrop.

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