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Investing.com - Stifel has reiterated its Buy rating on Procore Technologies, Inc (NYSE:PCOR) with a price target of $80.00 following a meeting with the company’s Head of Investor Relations. The target represents potential upside from the current price of $69.88, with analyst targets ranging from $70 to $91.
The investment firm hosted Procore’s Head of IR Alex Geller at Stifel’s 2025 Tech Executive Summit, where discussions covered the company’s market opportunity, macroeconomic conditions, go-to-market strategy changes, current remaining performance obligations (cRPO), and competitive landscape.
Despite acknowledging near-term macroeconomic uncertainty, Stifel believes Procore remains in the early stages of its mission to digitize the construction lifecycle, which aims to help projects finish on time, reduce costs, and improve safety.
The firm expressed confidence that recent changes to Procore’s go-to-market strategy should improve execution in coming quarters as these adjustments take effect.
Stifel characterized Procore as a "high-quality asset" with multiple drivers to sustain at least low- to mid-teens growth, improving operating margins, and free cash flow expansion over the coming years. The company maintains a strong balance sheet with more cash than debt, and according to InvestingPro, analysts expect profitability improvements in the coming year. Get access to 8 more key ProTips and comprehensive analysis with InvestingPro.
In other recent news, Procore Technologies reported its second-quarter earnings for 2025, exceeding Wall Street expectations. The company achieved an earnings per share of $0.35, surpassing the forecasted $0.26, and reported revenue of $324 million, which was above the anticipated $311.99 million. Despite these positive results, Citizens JMP downgraded Procore’s stock rating from Market Outperform to Market Perform. This downgrade followed the earnings announcement, even though the earnings results were strong. Additionally, DA Davidson initiated coverage of Procore Technologies with a Neutral rating, setting a price target of $70.00. In another development, Procore announced a strategic collaboration with Amazon Web Services to enhance its construction management technology. This partnership aims to accelerate advancements in artificial intelligence and data analytics, making Procore’s platform available in the AWS Marketplace for North America and Europe. These developments highlight Procore’s ongoing efforts to innovate and expand its market presence.
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