KeyBanc Cut its Target Price on Procore Technologies (PCOR) to $80

Core Viewpoint - Procore Technologies Inc. is identified as one of the best beaten-down growth stocks to consider for investment, despite a recent target price cut by KeyBanc due to market concerns regarding generative AI's impact on valuation multiples in the software industry [1][2]. Group 1: Financial Performance and Expectations - KeyBanc has reduced its target price for Procore from $91 to $80, a decrease of 12.1%, while maintaining an Overweight rating on the stock [1][7]. - The upcoming Q4-2025 results, scheduled for release on February 12, are anticipated to be a catalyst for Procore's stock, with expectations of revenue and current remaining performance obligation (cRPO) exceeding street estimates, projecting normalized growth rates in the mid-teens [2]. Group 2: Strategic Developments - Procore's recent acquisition of Data Grid is expected to be a significant topic during the upcoming earnings call, with the company aiming to enhance its AI capabilities in construction management [3]. - The integration of Data Grid's AI and deep search capabilities is described as transformative, enabling customers to connect siloed data and unlock the value of construction data, thereby fostering innovation [3]. Group 3: Company Overview - Procore Technologies Inc. is a cloud-based provider of construction management software, founded in 2002 and headquartered in Carpinteria, California [4].