On Nov 22, major Wall Street analysts update their ratings for $Procore Technologies (PCOR.US)$, with price targets ranging from $78 to $90.
J.P. Morgan analyst Alexei Gogolev maintains with a buy rating, and adjusts the target price from $75 to $85.
Barclays analyst Saket Kalia maintains with a hold rating, and adjusts the target price from $66 to $78.
Jefferies analyst Brent Thill maintains with a hold rating, and adjusts the target price from $70 to $80.
TD Cowen analyst Andrew Sherman maintains with a buy rating, and maintains the target price at $82.
BMO Capital analyst Daniel Jester maintains with a buy rating, and adjusts the target price from $71 to $85.
Furthermore, according to the comprehensive report, the opinions of $Procore Technologies (PCOR.US)$'s main analysts recently are as follows:
The firm's increased optimism following their analyst day reflects a stronger conviction in the company's competitive edges, which became apparent through various discussions with customers and partners.
Procore's investor day reinforced confidence in the company's growth strategy, emphasizing efficiency and improvements in free cash flow per share. The projection of a free cash flow margin trajectory of 25% to 40%+ surpasses expectations. Additionally, the implementation of a new go-to-market model is anticipated to accelerate top-line growth.
Following Procore's Investor Day and user conference, there is an incrementally positive sentiment due to potential pricing and packaging changes, enhanced momentum from its "swarming" motion, and high team morale. These factors support the viewpoint that anticipated disruptions could be more contained than previously expected. Additionally, there is optimism driven by its ambitious medium- and long-term free cash flow margin targets which are over 25% and 40% respectively.
The analyst notes that Procore has delivered 'incremental innovation' at Groundbreak. Despite being 'fundamental fans of the story,' they anticipate that upcoming go-to-market changes in fiscal Q1 might lead to some near-term volatility.
Here are the latest investment ratings and price targets for $Procore Technologies (PCOR.US)$ from 10 analysts:
Note:
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