KeyBanc Cuts Procore’s Price Target 12.1% to $80, Eyes Q4 Revenue Beat
KeyBanc cut its target price on Procore Technologies by 12.1% to $80 from $91 while retaining an Overweight rating. The firm expects Procore’s Q4-2025 revenue and cRPO to beat estimates with mid-teens growth and seeks details on the newly acquired Datagrid’s AI integration.
1. Price Target Revision
On February 6, KeyBanc reduced Procore’s price target from $91 to $80, representing a 12.1% cut, while maintaining its Overweight rating due to long-term growth outlook.
2. Q4-2025 Revenue and cRPO Outlook
KeyBanc anticipates Procore’s fourth-quarter fiscal 2025 revenue and current remaining performance obligation will exceed consensus estimates, forecasting normalized growth in the mid-teens percentage range.
3. Datagrid Acquisition Catalyst
Investors will seek management commentary on the January acquisition of Datagrid, as integration of its AI-driven search capabilities is expected to enhance Procore’s construction data platform but financial terms remain undisclosed.