Procore Technologies, Inc. research snapshot
PCOR AI stock analysis as of the August 3, 2026 data cutoff reads Procore Technologies as a construction SaaS platform that just crossed into GAAP profitability while rolling out an AI strategy anchored by two acquisitions. The stock closed at $54.77 on July 31, 2026, with a market capitalization near $8.32 billion computed as $54.77 times 151,885,923 shares and cross-validated against the Q2 2026 Form 10-Q. The Q2 2026 report, released July 29, 2026, delivered revenue of $375.2 million up 15.8%, the company first GAAP operating profit of $4.3 million, GAAP net income of $16.9 million, a non-GAAP operating margin of 21.5% up 800 basis points, and free cash flow of $64.5 million up 507%, with full year 2026 revenue guidance raised to $1.51 billion to $1.514 billion and FY2027 non-GAAP operating margin guidance set at 25%. On July 29, 2026 the company agreed to buy DroneDeploy for $845 million in cash, and on August 3, 2026 it announced a $750 million convertible senior notes offering due 2031 to fund the strategy. This page is informational research, not investment advice.
Current price
$54.77 at the July 31, 2026 close; $53.25 pre-market on August 3, 2026
Market cap
$8.32 billion
AI score
68 / 100
Rating
GAAP profitability inflection with an accelerating AI and data center strategy
Trend status
Improving short-term trend above the 50-day moving average, still below the 200-day
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Procore sells a cloud construction management platform to owners, general contractors, and specialty contractors. Revenue is subscription-based with 95% gross revenue retention and 2,871 customers paying more than $100,000 of annual recurring revenue, up 14% year over year, with total RPO of $1.67 billion up 24%. | Medium-high |
| Moat | Switching costs are high because project data, stakeholder workflows, and subcontractor relationships are embedded in the platform, and the network effect grows as more owners and contractors join. The DroneDeploy acquisition adds a visual data moat of 20 trillion square feet of captured construction imagery, but Autodesk and Oracle remain credible alternatives. | Medium |
| Management | CEO Ajei Gopal, nine months into his tenure, is executing a profitability and AI agenda with visible results. Founder Tooey Courtemanche remains involved as Chairman, CFO Rachel Pyles delivered the first GAAP operating profit and set a 25% FY2027 non-GAAP operating margin target, and the company is pairing organic Procore AI agents with the Datagrid and DroneDeploy acquisitions. | Medium |
| Financial trend | Revenue grew from $514.8 million in 2021 to $1,322.5 million in 2025, and Q2 2026 delivered 15.8% growth with the first GAAP operating profit of $4.3 million, GAAP net income of $16.9 million, and non-GAAP operating margin of 21.5%. Trailing twelve month operating cash flow is $368 million and free cash flow is $305 million. | High |
| Valuation | At $54.77, the P/S ratio is about 5.85x on trailing revenue and 5.5x on the FY2026 revenue guide midpoint, forward PE is about 27.4x, and P/FCF is about 27.2x. The multiple has expanded as the stock recovered from the $43 area after the Q2 report, leaving less margin of safety than in July. | Medium |
| Technical trend | PCOR closed at $54.77 on July 31, 2026, above its 50-day moving average near $45.05 but below its 200-day moving average near $58.78. The 14-day RSI near 72.33 is overbought after a three-week rally from the $43 area, and volume is elevated at 5.34 million shares versus a 20-day average of 3.04 million. | Medium |
| Risk level | Construction spending is uneven with manufacturing sub-sector weakness, the $845 million DroneDeploy purchase plus a $750 million convertible notes offering add balance sheet and dilution risk, integration of two AI acquisitions in one year is untested, the stock is overbought short term, and competition from Autodesk and Oracle persists. | High |
| AI confidence | High for descriptive facts and cross-checked math that matched across StockAnalysis.com, SEC EDGAR XBRL, the Q2 2026 earnings release, the Q2 2026 Form 10-Q, and the earnings call transcript. Lower for forward return estimates because AI monetization and construction cycle assumptions are uncertain. | High data confidence |
| Investment certainty | Medium certainty. The page gives a research framework and scenario ranges, not a buy or sell instruction. | Medium |
PCOR AI stock forecast
The PCOR AI stock forecast uses scenario math around the July 31, 2026 close of $54.77. The FY2026 revenue guide midpoint of $1.512 billion maps to P/S multiples of 4.5x to 7x for the bearish to bullish cases, and the FY2026 non-GAAP EPS consensus near $2.00 maps to exit multiples of 18x to 28x over three years. These are scenarios, not price commitments.
$70 to $90
More likely if Procore holds mid-teens growth, DroneDeploy integrates accretively and monetizes AI agents, data center construction strength continues, FY2027 non-GAAP operating margin reaches 25%, and the P/S multiple expands toward 7x on the FY2026 revenue guide.
$58 to $72
More likely if revenue grows 13% to 15%, the FY2026 non-GAAP operating margin of 18.5% to 19% and FY2027 target of 25% are met, and the stock holds near the $68.55 average analyst price target.
$40 to $52
More likely if growth decelerates below 12%, the DroneDeploy integration disappoints or dilutes, the $750 million convertible offering weighs on sentiment, construction spending enters a downturn, or the P/S multiple compresses toward 4.5x.
PCOR AI technical analysis
PCOR AI technical analysis uses the $54.77 July 31, 2026 close as the reference price. The stock rallied from the $43 area after the Q2 report and is now above its 50-day moving average near $45.05 but below its 200-day moving average near $58.78. RSI near 72.33 is overbought, and the stock is roughly 33% below its 52-week high of $82.32.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $54.77 | StockAnalysis.com listed the closing price as of July 31, 2026. Pre-market on August 3, 2026 was $53.25. |
| Near support | $52 to $53 | The July 31 intraday low of $52.90 and the August 3 pre-market print of $53.25 form the first support zone. |
| Strong support | $50 and $45 | Round-number support near $50, then the 50-day moving average near $45.05 which aligns with the late July breakout area. |
| Near resistance | $56 to $58.78 | The July 31 intraday high of $56.05 is the first resistance, followed by the 200-day moving average near $58.78. |
| 50-day moving average | $45.05 | The stock is trading above its 50-day moving average, a short-term bullish signal, but the average is still far below the price after a rapid rally. |
| 200-day moving average | $58.78 | A sustained close above the 200-day moving average would confirm the longer-term trend has turned positive. |
| Momentum | RSI near 72.33 | RSI is in overbought territory after the three-week rally, which raises the risk of a short-term pullback before the next leg. |
| Volume | 5.34 million on July 31 | Volume was well above the 20-day average of 3.04 million, confirming institutional interest in the earnings move. |
| Volatility | Beta 0.73 | A beta below 1.0 means PCOR has historically moved less than the overall market, though the AI-driven moves can change that. |
| Invalidation | Close below $50 | A decisive close below $50 and then below the 50-day moving average near $45 would invalidate the short-term breakout thesis. |
PCOR AI trading strategy
The PCOR AI trading strategy is a rules-based framework for research. It is not a personalized buy, sell, or hold recommendation. Traders should pair any setup with position sizing, stop logic, earnings dates, the DroneDeploy closing and convertible offering timeline, and construction industry data.
The short-term trend turned up after the Q2 report. A trend-following approach would look for a sustained close above the 200-day moving average near $58.78 on above-average volume as confirmation, then treat the rally as an uptrend.
If price closes back below $50, the breakout fails and longs should be reduced until the stock reclaims that level.
With RSI near 72.33, the stock is extended short term. A mean-reversion framework would wait for a pullback toward the $50 to $52 support zone or the 50-day moving average near $45.05 before considering an entry, looking for RSI to reset below 50.
Do not chase the rally above $56. Use a stop below $50 and keep position size small given the upcoming convertible offering and DroneDeploy closing could cause volatility.
Track quarterly revenue growth, GAAP operating income progression, non-GAAP operating margin versus the 18.5% to 19% FY2026 guide and 25% FY2027 target, CRPO and RPO growth, gross revenue retention, customers above $100,000 ARR, DroneDeploy closing and integration, and the $750 million convertible notes terms.
The highest risk is that one strong quarter and the AI narrative outpace fundamentals. Watch the Q3 2026 revenue guide of $382 million to $384 million and any construction spending data surprises.
Investment research summary
Procore is paid by construction companies to manage projects, financials, workforce, quality, and safety in a single cloud platform. Revenue is recurring subscription based on project volume and users, with about 80% GAAP gross margin, 95% gross revenue retention, and a growing base of customers paying over $100,000 annually.
High switching costs from embedded workflows and project data shared by owners, general contractors, and subcontractors, plus network effects as more industry participants join. The DroneDeploy acquisition adds a visual intelligence moat with 20 trillion square feet of captured construction imagery, though Autodesk and Oracle still offer overlapping capabilities.
The thesis fails if construction software adoption plateaus, if the $845 million DroneDeploy purchase or the $750 million convertible notes offering dilute value, if growth falls below 12%, if Autodesk or Oracle erode share, or if the construction industry enters a prolonged downturn that slows new customer acquisition.
CEO Ajei Gopal is nine months into his tenure and has delivered the first GAAP operating profit, raised full year guidance, and set a 25% FY2027 non-GAAP operating margin target. Founder Tooey Courtemanche remains Chairman, CFO Rachel Pyles is driving cost discipline, and capital allocation now includes two AI acquisitions funded partly by a new convertible offering.
Construction remains one of the least digitized major industries, and AI-driven data center construction is a powerful tailwind. Procore says nine of the ten largest North American data centers use its platform, and it signed its largest EMEA deal in Q2 with a hyperscale AI data center builder, but the core residential and multifamily market has been weak for two and a half years.
At about 5.85x trailing revenue and 27.4x forward earnings, PCOR trades in line with profitable vertical SaaS peers. The margin of safety is thinner than it was near $43 in early July, but the strong cash flow, first GAAP operating profit, and raised guidance mean the business is executing better than the long-term chart suggests.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Reference price | $54.77 closing price, July 31, 2026; $53.25 pre-market August 3, 2026 | StockAnalysis.com PCOR real-time quote | August 3, 2026 |
| Market capitalization | About $8.32 billion, verified as $54.77 x 151,885,923 shares using financial_rigor.py with 0.01% deviation | StockAnalysis.com and Q2 2026 Form 10-Q shares outstanding | August 3, 2026 |
| Q2 2026 revenue | $375.2 million, up 15.8% year over year | Procore Q2 2026 earnings release and Q2 2026 Form 10-Q | August 3, 2026 |
| Q2 2026 GAAP operating income | +$4.3 million, the first quarter of GAAP operating profit, with GAAP net income of $16.9 million and GAAP EPS of $0.11 | Procore Q2 2026 earnings release and Q2 2026 Form 10-Q | August 3, 2026 |
| Q2 2026 non-GAAP operating margin | 21.5%, up 800 basis points year over year, with non-GAAP EPS of $0.47 | Procore Q2 2026 earnings call | August 3, 2026 |
| Q2 2026 free cash flow | $64.5 million, up 507% year over year, with operating cash flow of $87.9 million up 185% | Procore Q2 2026 earnings release | August 3, 2026 |
| FY2025 revenue and net loss | Revenue of $1,322.5 million up 14.8%, and a GAAP net loss of $100.8 million | SEC EDGAR XBRL and StockAnalysis.com financials | August 3, 2026 |
| Trailing twelve month cash flow | Operating cash flow of $368.0 million and free cash flow of $305.5 million as of June 30, 2026 | StockAnalysis.com PCOR statistics | August 3, 2026 |
| Cash and investments | $494.4 million cash plus $161.5 million marketable securities at June 30, 2026, about $655.9 million total | Procore Q2 2026 Form 10-Q | August 3, 2026 |
| Debt and deferred revenue | No material interest-bearing debt; finance leases near zero. Deferred revenue of about $678.7 million total at June 30, 2026 | Procore Q2 2026 Form 10-Q | August 3, 2026 |
| Remaining performance obligations | Total RPO of $1.67 billion, up 24% year over year at June 30, 2026 | Procore Q2 2026 Form 10-Q | August 3, 2026 |
| Analyst consensus | 23 analysts: average rating Buy, average price target $68.55 | StockAnalysis.com PCOR analyst consensus | August 3, 2026 |
| FY2026 and FY2027 guidance | FY2026 revenue $1,510 million to $1,514 million, non-GAAP operating margin 18.5% to 19%, free cash flow margin 19.5%; FY2027 non-GAAP operating margin 25% | Procore Q2 2026 earnings release | August 3, 2026 |
| DroneDeploy acquisition | $845 million in cash for DroneDeploy, about $78 million trailing twelve month revenue and 600 mutual customers, announced July 29, 2026 | Procore earnings call and DroneDeploy press release | August 3, 2026 |
| Convertible senior notes | $750 million aggregate principal amount of convertible senior notes due 2031, announced August 3, 2026 | Procore press release via Business Wire | August 3, 2026 |
This PCOR AI stock analysis is an informational research tool only. It is not investment advice, financial advice, or a recommendation to buy, sell, or hold Procore Technologies shares. Forecast scenarios are based on available data at the August 3, 2026 cutoff and can be wrong. Past performance does not guarantee future results.
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