Is ProCore Technologies (PCOR) an Overlooked Opportunity?

1 hour ago 2

Soumya Eswaran

Wed, June 3, 2026 astatine 9:21 AM CDT 3 min read

e Wasatch Long/Short Alpha Fund, managed by Wasatch Global Advisors, has precocious published its Q1 2026 capitalist letter, which is disposable to download here. A displacement successful capitalist sentiment led to a marketplace correction and accrued volatility successful U.S. small- and mid-cap stocks during the archetypal quarter. Despite this, enthusiasm for AI continued to enactment companies progressive successful infrastructure development. The concern intensified successful the 4th owed to the struggle successful Iran, causing investors to see the imaginable for rising lipid prices and their wider implications connected the planetary economy. In this context, the Russell 2500 Index returned 2.04% successful the quarter, portion the Wasatch Long/Short Alpha Fund—Investor Class surpassed this show with a emergence of 4.16%, supported by the outperformance of its abbreviated positions. In addition, delight cheque the firm’s apical 5 holdings to cognize its champion picks successful 2026.

In its first-quarter 2026 capitalist letter, Wasatch Long/Short Alpha Fund highlighted Procore Technologies, Inc. (NYSE:PCOR). Procore Technologies, Inc. (NYSE:PCOR) is simply a exertion institution that provides a cloud-based operation absorption level and related bundle products. On June 2, 2026, Procore Technologies, Inc. (NYSE:PCOR) closed astatine $52.70 per share. One-month instrumentality of Procore Technologies, Inc. (NYSE:PCOR) was -0.49%, and its shares mislaid 21.72% implicit the past 52 weeks. Procore Technologies, Inc. (NYSE:PCOR) has a marketplace capitalization of $7.95 billion.

Wasatch Long/Short Alpha Fund stated the pursuing regarding Procore Technologies, Inc. (NYSE:PCOR) successful its Q1 2026 capitalist letter:

"One of our largest detractors, ProCore Technologies, Inc. (NYSE:PCOR), serves arsenic an illustration of a concern wherever the investors whitethorn beryllium underappreciating the durability of its competitory moat. ProCore’s bundle helps businesses negociate operation projects. Procore’s competitory vantage lies not successful its bundle code, but successful its extended web of contractors and the proprietary information generated crossed thousands of projects. That web effect and dataset are importantly much hard to replicate than the software’s underlying functionality, and we judge they presumption the institution good successful an AI-driven environment."

Procore Technologies, Inc. (NYSE:PCOR) is not connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 35 hedge money portfolios held Procore Technologies, Inc. (NYSE:PCOR) astatine the extremity of the archetypal quarter, compared to 45 successful the erstwhile quarter. Procore Technologies, Inc. (NYSE:PCOR) reported full gross of $359 cardinal successful Q1 2026, marking an summation of 15.7% year-over-year. While we admit the imaginable of Procore Technologies, Inc. (NYSE:PCOR) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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