Procore Technologies (PCOR) AI Stock Analysis

• Market Cap: $8.52B
• Dividend Yield: N/A
• Average Volume (3M): 3.18M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.63
• Revenue Growth: 14.94%
• EPS Growth: -67.31%
• Country: US
• Employees: 4,203
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.37
• Shares Outstanding: 150,100,480
• 10 Day Avg. Volume: 2,753,411
• 30 Day Avg. Volume: 3,182,828
• PEG Ratio: 15.62
• Price to Book (P/B): 8.66
• Price to Sales (P/S): 8.26
• P/FCF Ratio: 50.81
• Enterprise Value/Market Cap: 1.03
• Enterprise Value/Revenue: 6.66
• Enterprise Value/Gross Profit: 8.40
• Enterprise Value/Ebitda: 465.81
• 1Y Price Target: $73.85
• Price Target Upside: 30.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 16
• EPS Forecast (FY): 1.8
• Revenue Forecast (FY): $1.49B

• Rating: 71 Outperform
• Price Target: $63.00 ▲(10.97% Upside)
• Action: Upgraded Date: 03/11/26
• Date: Action: Upgraded 03/11/26

The score is driven mainly by strong and improving cash generation plus a conservative balance sheet, reinforced by earnings-call guidance for further margin and free-cash-flow expansion. It is held back by decelerating recent revenue growth, ongoing GAAP unprofitability (negative P/E), and a mixed technical trend with price still below longer-term moving averages.

Positive Factors

Strong cash generation & low leverage

Material improvement in operating and free cash flow, together with very low leverage, creates durable financial flexibility. This supports continued product investment, M&A or shareholder returns, absorbs construction cyclicality, and reduces solvency risk versus higher‑levered SaaS peers.

Clear margin expansion guidance

Management is forecasting sustained operating and free cash flow margin expansion driven by operating leverage and mix shift. Durable margin improvement increases cash generation per dollar of revenue and funds growth initiatives even if top‑line growth moderates.

Upmarket traction and product expansion

Growing share of large, high‑ARR customers and new product ramps lift average deal size and stickiness. Upmarket wins and platform expansion (payments, resource mgmt, AI) increase cross‑sell opportunities and recurring revenue durability versus a pure SMB mix.

Negative Factors

Recent revenue deceleration

A marked slowdown in recent reported growth reduces the runway for operating leverage and makes achieving long‑term targets harder. Slower top‑line expansion forces reliance on margin gains and large‑account expansion to sustain ARR growth and investor expectations.

Ongoing GAAP unprofitability / negative ROE

Despite strong cash generation, persistent GAAP losses and negative ROE indicate the company has not fully converted scale into reported earnings. Continued unprofitability limits capital allocation flexibility and increases dependence on cash flow improvements to validate long‑term returns.

Construction cyclicality & international headwinds

Procore is exposed to construction sector cycles and slower international adoption. Prolonged softness in nonresidential/multifamily demand or persistent FX drags can constrain new account adds and slow expansion abroad, making revenue more sensitive to macro swings than pure global SaaS peers.

Procore Technologies Business Overview & Revenue Model

Company Description

Procore Technologies, Inc. provides 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 Management, 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. The company also provides Resource Management that helps contractors to schedule, track, and forecast labor productivity, enhance time management, communication with workforces, and manage profitability on construction projects; and Financial Management, which provides customers with visibility into the financial health of their individual construction projects and portfolios, as well as facilitates untethered access to financial data, linking the field, and the office in real-time. It serves owners, general contractors, and specialty contractors operating in the commercial, residential, industrial, and infrastructure segments of the construction industry. The company primarily sells subscriptions to access its products on computers, smartphones, and tablets through any web browser or from its mobile application available for iOS and Android platforms through its direct sales team. Procore Technologies, Inc. was incorporated in 2002 and is headquartered in Carpinteria, California.

How the Company Makes Money

Procore primarily makes money by selling access to its cloud software platform on a subscription (SaaS) basis. Customers pay recurring fees to use Procore’s modules and features, typically under term-based contracts, creating recurring subscription revenue that is the company’s core revenue stream. In addition to subscriptions, Procore generates services and other revenue from professional services such as implementation, onboarding, training, and customer support services associated with deploying and expanding use of the platform. Procore also supports an ecosystem of third-party integrations through its marketplace and APIs, which can increase the platform’s value and help drive adoption and expansion within customer accounts; specific marketplace monetization details are null.

Procore Technologies Financial Statement Overview

Summary

Cash flow strength is a major positive (2025 operating cash flow ~$299M; free cash flow ~$215M) alongside low leverage (debt-to-equity ~0.09). Offsetting this, the company remains unprofitable (2025 net margin ~-7.6%) and 2025 revenue growth decelerated sharply (~3.7%), keeping the score below top-tier.

Income Statement

Revenue has scaled meaningfully over the last several years (from ~$400M in 2020 to ~$1.32B in 2025), but the growth rate has slowed sharply most recently (2025: ~3.7% vs. much higher earlier years). Profitability is improving: losses have narrowed substantially versus 2021–2022, with 2025 showing near break-even on an EBITDA basis and less negative operating and net margins than prior periods. Offsetting this, the company remains unprofitable in 2025 (net margin ~-7.6%), indicating the model is not yet consistently producing bottom-line earnings.

Balance Sheet

The balance sheet is relatively conservative, with low leverage (2025 debt-to-equity ~0.09) and a sizable equity base (~$1.26B) supporting total assets (~$2.24B). This provides flexibility and reduces solvency risk compared with more highly levered software peers. The key weakness is that returns on equity are still negative in recent years (2025 ROE ~-8%), reflecting ongoing net losses despite the strong capital position.

Cash Flow

Cash generation has strengthened materially: operating cash flow rose to ~$299M in 2025 (from ~$12.6M in 2022), and free cash flow reached ~$215M in 2025 with strong year-over-year growth. Free cash flow is positive and scaling even while net income remains negative, suggesting improving efficiency and favorable working-capital dynamics. A watch item is that cash flow performance has been volatile historically (notably weak in 2022), so durability through different demand environments remains important.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.32B	1.15B	950.01M	720.20M	514.82M
Gross Profit	1.04B	946.10M	775.55M	571.79M	416.51M
EBITDA	17.75M	-12.53M	-114.83M	-221.29M	-250.22M
Net Income	-100.78M	-105.96M	-189.69M	-286.93M	-265.17M
Balance Sheet
Total Assets	2.24B	2.10B	1.89B	1.74B	1.69B
Cash, Cash Equivalents and Short-Term Investments	768.49M	775.39M	677.95M	582.21M	586.11M
Total Debt	118.27M	80.02M	93.92M	94.32M	96.76M
Total Liabilities	976.80M	813.02M	737.96M	623.63M	501.37M
Stockholders Equity	1.26B	1.29B	1.16B	1.12B	1.19B
Cash Flow
Free Cash Flow	215.11M	177.03M	47.01M	-36.82M	9.10M
Operating Cash Flow	298.87M	196.17M	92.02M	12.61M	36.73M
Investing Cash Flow	-70.50M	-150.11M	-76.06M	-340.48M	-541.77M
Financing Cash Flow	-177.50M	36.24M	41.16M	38.65M	711.83M

Procore Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 56.77
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PCOR, the sentiment is Negative. The current price of 56.77 is above the 20-day moving average (MA) of 55.23, below the 50-day MA of 59.57, and below the 200-day MA of 68.27, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 50.01 is Neutral, neither overbought nor oversold. The STOCH value of 53.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PCOR.

Procore Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APPF	73 Outperform	$6.13B	59.45	28.77%	―	18.88%	54.44%
PCOR	71 Outperform	$8.52B	-108.44	-8.25%	―	14.94%	-67.31%
MNDY	67 Neutral	$3.78B	63.93	9.88%	―	28.62%	186.67%
BILL	63 Neutral	$3.92B	-533.32	-0.63%	―	11.63%	50.72%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TTAN	60 Neutral	$6.62B	-0.18	-0.04%	―	26.49%	-44.77%

Procore Technologies Corporate Events

Procore Appoints New CFO and CRO Amid Growth Plans

On March 10, 2026, Procore’s board appointed Rachel Pyles as Chief Financial Officer Designate and Robert “Walt” Hearn as Chief Revenue Officer Designate, effective immediately, with both to assume full CFO and CRO roles on April 1, 2026. Incumbent leaders Howard Fu and Larry Stack will remain in place until that date and then shift to short-term strategic advisory positions to support an orderly transition.

Pyles, a veteran finance executive with prior senior roles at Ansys, Synopsys-related transition work, and FIS/Worldpay, will receive a compensation package featuring a $450,000 base salary, cash bonus eligibility, and substantial time- and performance-based equity awards tied to total shareholder return and long-term value creation. Hearn, who led worldwide sales and customer excellence at Ansys and consistently delivered double-digit revenue growth, brings deep sales and customer success experience to Procore’s go-to-market efforts.

The leadership changes underscore Procore’s intent to pair seasoned technology-industry executives with its construction software franchise as it enters what management describes as a pivotal growth phase. In conjunction with announcing these appointments on March 10, 2026, the company reaffirmed its first-quarter and full-year fiscal 2026 guidance, signaling continuity in its financial outlook during the C-suite transition.

The most recent analyst rating on (PCOR) stock is a Hold with a $64.00 price target. To see the full list of analyst forecasts on Procore Technologies stock, see the PCOR Stock Forecast page.

Procore Technologies Appoints Ronald Hovsepian to Board

On December 8, 2025, Brian Feinstein resigned from the Board of Directors of Procore Technologies, effective December 9, 2025. His resignation was not due to any disagreements with the company. Ronald Hovsepian was appointed to fill the vacancy, serving as a Class I director until the 2028 annual meeting. Hovsepian was also appointed to the Compensation and Nominating Committees and qualifies as an independent director. He will receive annual cash retainers and restricted stock units as part of his compensation.

The most recent analyst rating on (PCOR) stock is a Hold with a $82.00 price target. To see the full list of analyst forecasts on Procore Technologies stock, see the PCOR Stock Forecast page.