Procore Technologies Drops 0.94% Despite Analysts' Strong Buy

Procore Technologies Inc. (PCOR) experienced a slight decline of 0.94% today, reaching its highest share price since March 2025 with an intraday gain of 1.44%.

The strategy of buying PCOR shares after they reached a recent high and selling them one week later delivered moderate returns over the past five years. The strategy achieved a 116.15% return, compared to a 58.96% return for the benchmark, resulting in a 57.19% excess return. The Sharpe ratio was 0.91, indicating a good risk-adjusted return. However, the strategy had a maximum drawdown of 0.00%, which suggests that it did not experience any significant losses during the backtest period.

Loop Capital analyst Mark Schappel has lowered the price target for Procore Technologies to $70. This adjustment suggests a shift in the analyst's outlook on the company's future performance, potentially influencing investor sentiment and stock price.

Despite the lowered price target from Loop Capital, Procore Technologies has a consensus of "Strong Buy" from analysts, with a price target consensus of $79.42. This indicates a generally positive outlook from the analyst community, which could support stock price stability or growth.

Segall Bryant & Hamill LLC reduced its holdings in Procore Technologies by 2.7% in the first quarter. Such changes in institutional holdings might impact stock price if other investors interpret this as a sign of changing confidence in the company.

Procore Technologies' Chief Legal Officer has sold company shares, which might be perceived negatively by investors, potentially affecting stock price.