KeyBanc Capital Markets has revised its price target for Procore Technologies (PCOR, Financial), bringing it down to $77 from the previous $96. Despite maintaining an Overweight rating on the stock, the firm is factoring in potential challenges ahead of Procore's upcoming quarterly earnings report.
The firm acknowledges the possibility that Procore may exceed expectations with its Q1 committed Remaining Performance Obligations (cRPO). However, the uncertain macroeconomic climate, coupled with tariff-related issues, may delay the anticipated rebound in the construction sector that investors were looking forward to in 2025.
As a result of these concerns, KeyBanc foresees the potential for current estimates to fall short of the market's Q4 cRPO growth prediction of 15.7%. Nonetheless, the firm remains optimistic about Procore's long-term prospects and believes the company's setup for Q1 is tactically favorable. However, KeyBanc continues to monitor the outlook for the latter half of 2025, given the increased economic uncertainties.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Procore Technologies Inc (PCOR, Financial) is $86.51 with a high estimate of $110.00 and a low estimate of $65.00. The average target implies an upside of 48.25% from the current price of $58.35. More detailed estimate data can be found on the Procore Technologies Inc (PCOR) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Procore Technologies Inc's (PCOR, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Procore Technologies Inc (PCOR, Financial) in one year is $95.73, suggesting a upside of 64.06% from the current price of $58.35. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Procore Technologies Inc (PCOR) Summary page.
