Procore Technologies (PCOR) is seeing early signs of AI adoption, with its Procore AI Starter Pack providing a low-friction entry point for customers, Oppenheimer said in a Friday research report.
The demand environment appears healthy despite a mixed construction macroeconomic backdrop, with labor shortages the main concern affecting customers, according to the note.
Oppenheimer also highlighted strong customer enthusiasm for DroneDeploy. It said the integration could strengthen Procore's AI-powered platform and enable cross-selling opportunities.
The company's AI partnerships could also broaden its relevance across pre-construction, jobsite execution, and owner operations, the note added.
Oppenheimer has a perform rating on Procore Technologies.
The company's shares were up 1.6% in Friday afternoon trading.
Price: 63.27, Change: +0.98, Percent Change: +1.57
