On Nov 23, major Wall Street analysts update their ratings for $Procore Technologies (PCOR.US)$, with price targets ranging from $83 to $90.
Goldman Sachs analyst Kash Rangan maintains with a buy rating, and adjusts the target price from $73 to $83.
Oppenheimer analyst Kenneth Wong maintains with a hold rating.
Stifel analyst Adam Borg maintains with a buy rating, and adjusts the target price from $70 to $84.
Piper Sandler analyst Brent Bracelin maintains with a buy rating, and adjusts the target price from $70 to $90.
Scotiabank analyst Nick Altmann maintains with a buy rating, and adjusts the target price from $70 to $85.
Furthermore, according to the comprehensive report, the opinions of $Procore Technologies (PCOR.US)$'s main analysts recently are as follows:
The company's Analyst Day presentation outlined a strong strategic approach aimed at steadily boosting growth and expanding margins over the medium term, despite the challenging macroeconomic environment. Analysts are appreciative of the product and market prospects for Procore as it integrates technical and geographic sales resources that are in line with its recent updates.
The firm's increased confidence in the company's competitive advantages is bolstered by insights from customer and partner conversations experienced during its analyst day.
Procore's investor day emphasized growth driving efficiency and improvement in free cash flow per share. The company's projection of a 25% to 40%+ free cash flow margin trajectory was noted to surpass expectations. Additionally, their new go-to-market model is poised to accelerate top-line growth.
Following Procore's Investor Day and user conference, the sentiment remains incrementally positive, influenced by potential pricing and packaging changes, the efficacy of its 'swarming' motion, and strong morale. These factors bolster confidence that any disruption may be more contained than initially anticipated. Additionally, the outlook for medium- and long-term free cash flow margin targets of 25%+ and 40%+ respectively, further strengthens this view.
Here are the latest investment ratings and price targets for $Procore Technologies (PCOR.US)$ from 5 analysts:
Note:
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