Procore Down 30% YTD; GS Reiterates Buy with $75 Target
Procore Technologies shares are down approximately 30% year-to-date after investor concerns about AI-driven workflow disruptions. Goldman Sachs reiterates a Buy rating with a $75 price target, citing low-to-mid-teens revenue growth and expansion of free cash flow margins toward 30%.
1. Stock Performance Decline
Procore Technologies shares have fallen about 30% year-to-date as investor worries over AI-driven workflow agents have weighed on sentiment.
2. Analyst Rating and Price Target
Goldman Sachs has reiterated a Buy rating and set a $75 price target on Procore, basing its valuation on an EV/free cash flow multiple and signaling confidence in long-term cash generation.
3. Growth Outlook and Margins
The firm forecasts steady revenue growth in the low-to-mid teens and anticipates free cash flow margins expanding toward 30%, highlighting the company’s construction-volume-linked model and deep workflow integration as competitive advantages.