KeyBanc raised the firm’s price target on Procore (PCOR) to $85 from $68 and keeps an Overweight rating on the shares. KeyBanc came away from Procore’s Investor Day and user conference incrementally more positive, telling investors in a research note that potential pricing and packaging changes, uplift seen from its “swarming” motion, and upbeat morale give the firm confidence that disruption could be more limited than feared. The firm was also encouraged by its medium- and long-term free cash flow margin targets of 25%+ and 40%+, respectively.
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Read More on PCOR:
- Procore price target raised to $78 from $66 at Barclays
- Procore Technologies Unveils Strategic Initiatives at Investor Day
- Procore integrates with FYLD AI platform for infrastructure sector
- Procore price target raised to $70 from $65 at Jefferies
- JPMorgan software analysts hold an analyst/industry conference call
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
