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Investing.com - Citizens has reiterated its Market Perform rating on Procore Technologies, Inc (NYSE:PCOR), a $10.5 billion market cap construction software company with impressive 80% gross profit margins, following the company’s Groundbreak user conference in Houston last week. According to InvestingPro data, the stock is currently trading near its Fair Value.
The investment firm maintained its rating after speaking with numerous customers and partners at the conference, which included a product-focused analyst session.
Citizens conducted additional due diligence beyond the Groundbreak event, ahead of Procore’s third-quarter 2025 earnings call scheduled for November 5 after market close.
The firm’s decision also comes before the leadership transition on November 10, when incoming CEO Ajei Gopal will succeed Founder and CEO Tooey Courtemanche.
Citizens noted that Procore stock has decreased 7% year-to-date, compared to a 13% increase for the Russell 3000 index during the same period.
In other recent news, Procore Technologies has seen several analyst ratings that reflect confidence in the company’s future prospects. BMO Capital reiterated its Outperform rating with a price target of $82, following discussions at Procore’s Groundbreak event where the company emphasized its artificial intelligence strategy. Similarly, Goldman Sachs reaffirmed its Buy rating and set a price target of $87, highlighting Procore’s competitive edge through its proprietary construction data corpus and AI capabilities. Piper Sandler also maintained an Overweight rating with a price target of $82, noting Procore’s mid-teens cRPO growth despite sector headwinds.
In addition, BMO Capital reiterated its Outperform rating after Procore announced Ajei Gopal as its new CEO, marking the end of a leadership transition. Berenberg initiated coverage of Procore with a Buy rating and a price target of $84, citing the company’s market leadership with its integrated cloud-based platform. These developments demonstrate a consistent positive outlook from various analysts regarding Procore Technologies.
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