Procore Technologies achieves FedRAMP Moderate Authorization for Government Solution
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 14 2024
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Should l Buy PCOR?
Source: Newsfilter
Procore Technologies Inc. has seen its stock price drop by 8.39%, hitting a 52-week low amid a broader market decline, with the Nasdaq-100 down 1.07% and the S&P 500 down 0.42%.
The company's recent achievement of FedRAMP Moderate Authorization for its Procore for Government solution is a significant milestone, allowing U.S. federal entities to manage construction projects securely. This authorization supports the Department of Defense contractors in meeting cybersecurity obligations, reflecting Procore's commitment to innovation in the public sector.
This development positions Procore favorably within the $520 billion annual U.S. public sector construction market, potentially enhancing its growth prospects despite current market challenges.
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Analyst Views on PCOR
Wall Street analysts forecast PCOR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PCOR is 87.83 USD with a low forecast of 70.00 USD and a high forecast of 95.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 51.710
Low
70.00
Averages
87.83
High
95.00
Current: 51.710
Low
70.00
Averages
87.83
High
95.00
About PCOR
Procore Technologies, Inc. is a technology company. The Company is a global provider of cloud-based construction management software. The Company's unified technology platform leverages artificial intelligence (AI) and data-driven insights and decision making. The Company's platform is modernizing and digitizing construction management by enabling access to project information, simplifying complex workflows, and facilitating communication among relevant stakeholders. Its core customers are owners, general contractors, and specialty contractors operating across the residential and non-residential segments of the construction industry. Its solutions include Preconstruction, Project Execution, Resource Management, Financial Management, and Procore Helix. Its Preconstruction solutions include Tender Management, BIM, and Estimating. Its Project Execution solutions include Project Management, and Quality and Safety. Its Procore Helix solutions include Analytics, Assist, and Insights.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Procore Achieves FedRAMP Moderate Authorization for Government Solution
- Secure Management Platform: Procore Technologies announced that its Procore for Government solution has achieved Federal Risk and Authorization Management Program (FedRAMP®) Moderate Authorization, enabling U.S. federal entities and their contractors to manage and build federal construction projects through a secure, unified platform.
- Infrastructure Investment: The U.S. public sector generates over $520 billion in annual construction spending, and Procore's solution is specifically designed to handle Controlled Unclassified Information (CUI), supporting Department of Defense contractors in meeting Cybersecurity Maturity Model Certification (CMMC) Level 2 obligations.
- Data Integration and Compliance: The Procore for Government platform automates complex compliance tasks to ensure project details remain secure and audit-ready, helping U.S. agencies and their contractors accelerate project timelines while mitigating delays and budget overruns.
- Commitment to Technological Innovation: Procore President Steve Davis stated that achieving FedRAMP Moderate Authorization reflects the company's commitment to bringing innovations from the commercial sector into public infrastructure construction, aiming to enhance efficiency and data security in the construction industry.
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Procore Technologies Acquires Datagrid to Accelerate AI Strategy
- Acquisition Completed: Procore Technologies finalized its acquisition of Datagrid in January 2026, aiming to accelerate its AI strategy and significantly enhance data connectivity within the construction ecosystem.
- Data Connectivity Expansion: This acquisition will help Procore reduce data silos for customers and automate workflows, thereby improving overall operational efficiency and enhancing customer satisfaction.
- Market Reaction: Despite being viewed as a strategic move, Procore's shares fell by 3.74%, indicating market concerns regarding post-acquisition integration and its impact on financial performance.
- Future Outlook: Procore targets $1.314 billion in revenue by 2025, with the new CEO's strategic vision expected to create opportunities for margin expansion and further drive business growth.
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- Management and Advisory Relationship: PIMCO Canada manages these ETFs while retaining PIMCO LLC for sub-advisory services, ensuring professional investment strategies and market adaptability.
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Procore Achieves FedRAMP Moderate Authorization for Government Solution
- Secure Management Platform: Procore Technologies announced that its Procore for Government solution has achieved Federal Risk and Authorization Management Program (FedRAMP®) Moderate Authorization, enabling U.S. federal entities and their contractors to manage and build federal construction projects through a secure, unified platform.
- Infrastructure Investment: The U.S. public sector generates over $520 billion in annual construction spending, and Procore's solution is specifically designed to handle Controlled Unclassified Information (CUI), supporting Department of Defense contractors in meeting Cybersecurity Maturity Model Certification (CMMC) Level 2 obligations.
- Data Integration and Compliance: The Procore for Government platform automates complex compliance tasks to ensure project details remain secure and audit-ready, helping U.S. agencies and their contractors accelerate project timelines while mitigating delays and budget overruns.
- Commitment to Technological Innovation: Procore President Steve Davis stated that achieving FedRAMP Moderate Authorization reflects the company's commitment to bringing innovations from the commercial sector into public infrastructure construction, aiming to enhance efficiency and data security in the construction industry.
See More
Procore Technologies Acquires Datagrid to Accelerate AI Strategy
- Acquisition Completed: Procore Technologies finalized its acquisition of Datagrid in January 2026, aiming to accelerate its AI strategy and significantly enhance data connectivity within the construction ecosystem.
- Data Connectivity Expansion: This acquisition will help Procore reduce data silos for customers and automate workflows, thereby improving overall operational efficiency and enhancing customer satisfaction.
- Market Reaction: Despite being viewed as a strategic move, Procore's shares fell by 3.74%, indicating market concerns regarding post-acquisition integration and its impact on financial performance.
- Future Outlook: Procore targets $1.314 billion in revenue by 2025, with the new CEO's strategic vision expected to create opportunities for margin expansion and further drive business growth.
See More
Ambarella, Inc. (AMBA) Options Volume Hits 485,400 Shares, Significant Increase
- Active Options Trading: Ambarella, Inc. (AMBA) has seen an options volume of 4,854 contracts today, equivalent to approximately 485,400 shares, indicating a trading activity level that represents 47.9% of its average daily volume over the past month, reflecting increased market interest in its future performance.
- High Demand Options: Notably, the $80 strike call option expiring on February 20, 2026, has traded 1,299 contracts today, representing about 129,900 shares, indicating a growing bullish sentiment among investors regarding Ambarella's stock price.
- DocuSign Options Activity: Concurrently, DocuSign Inc. (DOCU) has recorded an options volume of 14,263 contracts today, translating to approximately 1.4 million shares, also accounting for 47.9% of its average daily trading volume over the past month, showcasing strong market interest in its stock.
- Put Option Trading: Within DocuSign, the $50 strike put option has seen 861 contracts traded today, representing around 86,100 shares, suggesting that investors are wary of potential downside risks for the stock in the near term.
See More
Goldman Sachs Upgrades Coinbase to Buy, Highlights Structural Growth Potential
- Rating Upgrade: Goldman Sachs has upgraded Coinbase from Neutral to Buy, reflecting its structural growth potential in the derivatives business and crypto infrastructure, which is expected to drive future performance improvements.
- Market Outlook: Goldman highlighted that growth in emerging products like tokenization and prediction markets will further enhance Coinbase's market position, attracting more investor interest.
- Investor Confidence: With Goldman’s rating upgrade, market confidence in Coinbase is likely to strengthen, potentially attracting more capital inflows and driving the stock price higher.
- Industry Impact: Coinbase's successful transformation could set a benchmark for the entire cryptocurrency industry, prompting other companies to undertake similar strategic adjustments to adapt to market changes.
See More
Applied Digital Options Volume Hits 133,842 Contracts, Exceeding 54.1% of Daily Average
- Active Options Trading: Applied Digital Corporation's options volume reached 133,842 contracts today, equivalent to approximately 13.4 million shares, indicating strong market interest and representing 54.1% of its average daily trading volume over the past month.
- High Strike Options Activity: Among the options, the $28 strike call option expiring on January 2, 2026, was particularly active with 6,720 contracts traded today, representing about 672,000 underlying shares, suggesting investor expectations for future price increases.
- Procore Options Overview: Concurrently, Procore Technologies Inc's options volume stood at 5,207 contracts, approximately 520,700 shares, accounting for 50.7% of its average daily trading volume over the past month, reflecting its market activity.
- Focus on High Strike Options: The $80 strike call option for Procore expiring on February 20, 2026, saw a trading volume of 5,168 contracts today, representing around 516,800 shares, indicating optimistic sentiment among investors regarding its future performance.
See More
PIMCO Canada Announces 2025 ETF Cash Distributions
- Cash Distribution Announcement: PIMCO Canada has announced the fourth quarter and annual cash distributions for its ETF series in 2025, with per-unit distributions of $0.55913, $0.38729, and $0.19427, indicating the company's ongoing ability to deliver returns in the fixed income market.
- Distribution Timing: Unitholders of the ETF series will receive cash distributions payable on January 5, 2065, after the close of business on December 30, 2025, reflecting the company's commitment to investor transparency and reliability.
- Management and Advisory Relationship: PIMCO Canada manages these ETFs while retaining PIMCO LLC for sub-advisory services, ensuring professional investment strategies and market adaptability.
- Market Outlook: Although market fluctuations may impact distribution rates, PIMCO remains committed to providing stable risk-adjusted returns for investors, underscoring its leadership position in navigating complex debt markets.
See More
