Procore shares fall 11.06% after-hours as software sector sells off amid AI integration concerns, driving repositioning away from traditional SaaS providers.

Procore Technologies (PCOR) surged 11.06% in after-hours trading following a Barclays upgrade to "Overweight" from "Equalweight," with a raised price target to $90 from $82. The firm cited optimism about U.S. non-residential construction spending and confidence in CEO Ajei Gopal’s leadership. This upgrade, announced after the morning sector-wide sell-off driven by AI-related SaaS concerns, signaled renewed institutional confidence in Procore’s growth prospects amid broader market volatility.