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Investing.com - Goldman Sachs has reiterated its Buy rating and $87.00 price target on Procore Technologies, Inc (NYSE:PCOR) following the Groundbreak 2025 conference and Analyst Session. According to InvestingPro data, the stock currently trades at $70.62, with analysts’ targets ranging from $70 to $91, suggesting potential upside.
The investment bank highlighted Procore’s competitive advantage through its proprietary construction data corpus, which powers the company’s Helix intelligence layer. This AI foundation supports multiple features including Procore Assist for intelligent search, 360 Reporting for analytics, and Agent solutions for automating time-consuming tasks. The company’s technology-driven approach has helped maintain impressive gross profit margins of 80.22%, according to InvestingPro data.
Goldman Sachs noted that Procore is prioritizing user adoption before monetization, with plans to eventually implement consumption-based pricing packages. The firm believes Procore’s refined go-to-market strategy emphasizing multi-product attachment could accelerate adoption rates.
The research also pointed to Procore’s owner-focused innovations as potential growth drivers, including new planning-phase products, improved general contractor-owner collaboration via Procore Connect, and more targeted marketing approaches to expand into under-tapped customer segments.
At 7x enterprise value to sales for calendar year 2026, Goldman Sachs views Procore’s risk-reward profile as attractive, particularly as the market factors in a cyclical growth trough while potentially undervaluing future growth when the construction cycle turns positive. InvestingPro analysis shows the company maintaining strong revenue growth of 16.08% and a healthy Altman Z-Score of 7.58, indicating solid financial stability. For deeper insights into Procore’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Procore Technologies has announced a significant leadership change, with Ajei Gopal, former CEO of Ansys, stepping in as the new Chief Executive Officer. This announcement concludes a transition process that started in March 2024, with current CEO Tooey Courtemanche moving to the role of Chairman of Procore’s Board of Directors. Several research firms have responded to this development, maintaining positive outlooks on the company’s stock. Piper Sandler reiterated an Overweight rating, acknowledging sector headwinds but highlighting Procore’s mid-teens cRPO growth. BMO Capital also reaffirmed an Outperform rating, noting the leadership change as a constructive step. Additionally, Stifel maintained a Buy rating, setting a price target of $80.00. Berenberg initiated coverage with a Buy rating, citing Procore’s market leadership and integrated cloud-based platform. These ratings reflect confidence in Procore’s strategic direction and market position amidst recent developments.
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