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Procore Technologies
(NYSE:PCOR)
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Rating:69Neutral
Price Target:
$46.00
▼(-17.03% Downside)
Action:Downgraded
Date:06/27/26
The score is driven primarily by strong underlying financial quality (notably robust free cash flow and low leverage) and a bullish earnings update with raised guidance and sizeable margin expansion. Offsetting these positives, the technical picture remains clearly bearish (price below key moving averages with negative MACD), and valuation metrics are constrained by ongoing GAAP losses (negative P/E and no dividend yield provided).
Positive Factors
Cash generation & Low leverage
Consistent, multi-year improvement to positive free cash flow and strong operating cash (~$310M TTM) combined with very low leverage (~0.07 D/E) provides durable financial flexibility. This supports sustained investment in product, opportunistic M&A, and capital returns while insulating operations during cyclical construction slowdowns.
Negative Factors
GAAP profitability still negative
Despite strong cash flow and non‑GAAP progress, GAAP net margin remains negative (~-5.6% TTM). Persistent GAAP losses mean the company still must convert operational improvements into consistent GAAP profitability, which influences long‑term return metrics and could constrain strategic optionality if sustained longer than management expects.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & Low leverage
Consistent, multi-year improvement to positive free cash flow and strong operating cash (~$310M TTM) combined with very low leverage (~0.07 D/E) provides durable financial flexibility. This supports sustained investment in product, opportunistic M&A, and capital returns while insulating operations during cyclical construction slowdowns.
Read all positive factors
Procore Technologies Key Performance Indicators (KPIs)
Any
Organic Customer Count
Shows the number of customers acquired without paid marketing, indicating the strength of the product's appeal and word-of-mouth growth potential.
Shows the number of customers acquired without paid marketing, indicating the strength of the product's appeal and word-of-mouth growth potential.
Data provided by:
The Fly
The FlyProcore Technologies (PCOR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.81B
Dividend YieldN/A
Average Volume (3M)2.98M
Price to Earnings (P/E)―
Beta (1Y)1.46
Revenue Growth14.94%
EPS Growth40.51%
CountryUS
Employees4,421
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.51
Shares Outstanding150,890,210
10 Day Avg. Volume2,198,051
30 Day Avg. Volume2,984,124
Financial Highlights & Ratios
PEG Ratio15.63
Price to Book (P/B)8.66
Price to Sales (P/S)8.26
P/FCF Ratio50.81
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$69.77Price Target Upside25.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering16
EPS Forecast (FY)1.68
Revenue Forecast (FY)$1.50B
Procore Technologies Business Overview & Revenue Model
Company Description
Procore Technologies, Inc. delivers a comprehensive, cloud-based platform designed for construction management, along with accompanying software solutions, serving clients both in the United States and globally. This platform empowers a diverse ra...
How the Company Makes Money
Procore primarily makes money by selling access to its software platform under a subscription-based model (software-as-a-service). Customers pay recurring fees to use Procore’s modules and capabilities, typically under contracts that renew over ti...
Procore Technologies Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call presented a strong quarter with clear execution: double-digit revenue growth (15.7%), substantial margin expansion (+650 bps to 17%), improved free cash flow (+20%) and raised full-year guidance. Momentum across backlog metrics, large deal wins, rapid product adoption (Procore Scheduling, 2,000+ companies), strategic partnerships (NVIDIA) and early but fast-moving AI integration (Datagrid, agents, voice pilot) underpin an optimistic outlook. Key risks are modest near-term gross margin headwinds from AI compute costs, the early-stage nature of AI monetization and go-to-market scaling (broader sales motion expected in Q3), and some perceived short-term deceleration in guide pacing. Overall, positives substantially outweigh the near-term headwinds, with anticipated efficiency gains and monetization opportunities materializing over the medium term (notably into 2027).Positive Updates
Strong Q1 Revenue and Profitability
Total revenue of $359 million in Q1, up 15.7% year-over-year; non-GAAP operating income of $61 million representing a 17% non-GAAP operating margin (up 650 basis points year-over-year); free cash flow of $56 million, up 20% year-over-year.
Negative Updates
AI-Related Cost Headwinds and Timing of Efficiencies
Management expects modest gross margin headwinds from increased compute expenses to support AI workloads; material operating efficiencies from internal AI adoption are expected but will be realized more meaningfully in 2027 and beyond, implying near-term margin pressure from AI compute costs.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Q1 Revenue and Profitability
Total revenue of $359 million in Q1, up 15.7% year-over-year; non-GAAP operating income of $61 million representing a 17% non-GAAP operating margin (up 650 basis points year-over-year); free cash flow of $56 million, up 20% year-over-year.
Read all positive updates
Company Guidance
Procore raised its FY‑26 outlook after a strong Q1 beat (Q1 revenue $359M, +15.7% Y/Y; non‑GAAP operating income $61M, margin 17%, +650 bps Y/Y; free cash flow $56M, +20% Y/Y; current RPO +21% Y/Y; current deferred revenue +17% Y/Y), guiding Q2 revenue of $364M–$366M (≈13% Y/Y at the high end) with Q2 non‑GAAP operating margin of 17.5%–18.5%, and raising full‑year revenue to $1.499B–$1.53B (≈13.6% Y/Y at the high end) while increasing FY non‑GAAP operating margin by 50 bps to 18%–18.5% (implying ~390–440 bps Y/Y expansion) and maintaining free cash flow margin guidance at 19% (≈280 bps Y/Y expansion).Procore Technologies Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
76
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.37B | 1.32B | 1.15B | 950.01M | 720.20M | 514.82M |
| Gross Profit | 1.09B | 1.04B | 946.10M | 775.55M | 571.79M | 416.51M |
| EBITDA | 37.93M | 17.75M | -12.53M | -114.83M | -221.29M | -250.22M |
| Net Income | -76.89M | -100.78M | -105.96M | -189.69M | -286.93M | -265.17M |
Balance Sheet | ||||||
| Total Assets | 2.11B | 2.24B | 2.10B | 1.89B | 1.74B | 1.69B |
| Cash, Cash Equivalents and Short-Term Investments | 604.87M | 768.49M | 775.39M | 677.95M | 582.21M | 586.11M |
| Total Debt | 92.98M | 118.27M | 80.02M | 93.92M | 94.32M | 96.76M |
| Total Liabilities | 908.07M | 976.80M | 813.02M | 737.96M | 623.63M | 501.37M |
| Stockholders Equity | 1.20B | 1.26B | 1.29B | 1.16B | 1.12B | 1.19B |
Cash Flow | ||||||
| Free Cash Flow | 257.05M | 215.11M | 177.03M | 47.01M | -36.82M | 9.10M |
| Operating Cash Flow | 309.60M | 298.87M | 196.17M | 92.02M | 12.61M | 36.73M |
| Investing Cash Flow | -62.01M | -70.50M | -150.11M | -76.06M | -340.48M | -541.77M |
| Financing Cash Flow | -160.84M | -177.50M | 36.24M | 41.16M | 38.65M | 711.83M |
Procore Technologies Technical Analysis
Positive
55.44
Price Trends
45.49
Positive
50.70
Negative
60.05
Negative
Market Momentum
-0.10
Negative
57.47
Neutral
76.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PCOR, the sentiment is Positive. The current price of 55.44 is above the 20-day moving average (MA) of 42.33, above the 50-day MA of 45.49, and below the 200-day MA of 60.05, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 57.47 is Neutral, neither overbought nor oversold. The STOCH value of 76.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PCOR.
Procore Technologies Risk Analysis
Procore Technologies disclosed 42 risk factors in its most recent earnings report. Procore Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Procore Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $6.42B | 42.39 | 30.90% | ― | 20.72% | -21.76% | |
71 Outperform | $3.39B | 33.62 | 10.69% | ― | 25.42% | 125.90% | |
69 Neutral | $6.81B | -89.99 | -6.27% | ― | 14.94% | 40.51% | |
63 Neutral | $7.20B | -52.05 | -8.97% | ― | 24.09% | 59.33% | |
62 Neutral | $4.45B | -13,548.48 | <0.01% | ― | 12.47% | -98.50% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
PCOR
Procore Technologies
45.95
-27.48
-37.42%
APPF
AppFolio
179.73
-72.50
-28.74%
BILL
Bill.com Holdings
44.71
-0.58
-1.28%
MNDY
Monday.com
78.69
-205.46
-72.31%
TTAN
ServiceTitan, Inc. Class A
76.00
-37.97
-33.32%
Procore Technologies Corporate Events
Executive/Board ChangesShareholder Meetings
Procore Shareholders Reelect Directors and Back Governance Measures
Positive
Jun 5, 2026
At its annual meeting of stockholders held on June 4, 2026, Procore Technologies, Inc. reported final voting results for several key governance items. Shareholders elected three Class II directors—Craig F. Courtemanche, Jr., Kathryn A. Bueke...
Business Operations and StrategyExecutive/Board Changes
Procore Adds AI Leader to Board for Growth
Positive
Apr 22, 2026
On April 20, 2026, Procore Technologies’ board expanded from 10 to 11 members and appointed Columbia University computer science professor and AI leader Vishal Misra as an independent Class III director, with a concurrent appointment to the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.