Procore Rallies After Beat-and-Raise Quarter and DroneDeploy Deal

Procore Technologies (PCOR) is up 7.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a strong quarterly report that beat expectations, showed Procore’s first GAAP operating profit, and included higher full-year guidance. Investor sentiment also appears to be getting an extra lift from the company’s planned acquisition of DroneDeploy, which adds another AI and jobsite-automation angle to the story.

Details:

Procore reported second-quarter revenue of $375 million, up 16% from a year earlier, with adjusted earnings per share of $0.47, ahead of consensus estimates.

The company said GAAP operating margin turned positive at 1%, while non-GAAP operating margin reached 21%, suggesting improving scale and cost discipline.

Management raised full-year 2026 revenue guidance to $1.510 billion to $1.514 billion and projected a 2027 non-GAAP operating margin of 25%, which likely reinforced confidence in a longer profitability runway.

On the same day, Procore announced a deal to buy DroneDeploy for about $845 million in cash, a move intended to combine reality-capture data, robotics, and Procore AI into a more automated construction software platform.

Sources:

Procore, SEC, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PCOR Insider Trading Activity

$PCOR insiders have traded $PCOR stock on the open market 35 times in the past 6 months. Of those trades, 0 have been purchases and 35 have been sales.

Here’s a breakdown of recent trading of $PCOR stock by insiders over the last 6 months:

CRAIG F. JR. COURTEMANCHE has made 0 purchases and 13 sales selling 280,609 shares for an estimated $13,747,977.
CONNOR KEVIN J O has made 0 purchases and 18 sales selling 65,388 shares for an estimated $3,279,251.
BENJAMIN C SINGER (Chief Legal Officer; Secretary) has made 0 purchases and 4 sales selling 10,880 shares for an estimated $545,123.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$PCOR Hedge Fund Activity

We have seen 204 institutional investors add shares of $PCOR stock to their portfolio, and 226 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

AQR CAPITAL MANAGEMENT LLC added 4,996,607 shares (+1849.7%) to their portfolio in Q1 2026, for an estimated $284,806,599
UBS GROUP AG added 3,664,955 shares (+840.6%) to their portfolio in Q1 2026, for an estimated $208,902,435
PRICE T ROWE ASSOCIATES INC /MD/ added 3,334,753 shares (+147.4%) to their portfolio in Q1 2026, for an estimated $190,080,921
ALLIANCEBERNSTEIN L.P. added 2,441,295 shares (+33.4%) to their portfolio in Q1 2026, for an estimated $139,153,815
ASSENAGON ASSET MANAGEMENT S.A. added 2,146,182 shares (+95.3%) to their portfolio in Q2 2026, for an estimated $87,177,912
WOODLINE PARTNERS LP removed 1,436,508 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $81,880,956
CAPITAL WORLD INVESTORS added 1,399,774 shares (+44.9%) to their portfolio in Q1 2026, for an estimated $79,787,118

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PCOR Analyst Ratings

Wall Street analysts have issued reports on $PCOR in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

BTIG issued a "Buy" rating on 05/06/2026
Piper Sandler issued a "Overweight" rating on 05/06/2026
UBS issued a "Buy" rating on 05/06/2026

To track analyst ratings and price targets for $PCOR, check out Quiver Quantitative's $PCOR forecast page.

$PCOR Price Targets

Multiple analysts have issued price targets for $PCOR recently. We have seen 11 analysts offer price targets for $PCOR in the last 6 months, with a median target of $70.0.

Here are some recent targets:

Kash Rangan from Goldman Sachs set a target price of $70.0 on 05/07/2026
Clarke Jeffries from Piper Sandler set a target price of $71.0 on 05/06/2026
Taylor McGinnis from UBS set a target price of $68.0 on 05/06/2026
Nick Altmann from BTIG set a target price of $66.0 on 05/06/2026
Aaron Kimson from Citizens set a target price of $71.0 on 04/29/2026
Andrew Sherman from TD Cowen set a target price of $75.0 on 04/21/2026
Adam Borg from Stifel set a target price of $63.0 on 02/13/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.