Daniel Jester, an analyst from BMO Capital, maintained the Buy rating on Procore Technologies (PCOR – Research Report). The associated price target was lowered to $75.00.
Daniel Jester has given his Buy rating due to a combination of factors that highlight Procore Technologies’ potential for growth despite current challenges. The company has shown resilience in navigating a slower construction market and adapting to post-pandemic conditions, including higher interest rates and tariffs. Procore’s focus on enhancing its sales organization to target enterprise customers positions it well to benefit from ongoing digital transformation trends in the construction industry.
Additionally, the company’s shares are trading near an all-time low revenue multiple, presenting an attractive risk/reward opportunity for long-term investors. While macroeconomic concerns persist, Procore’s revenue model and strategic improvements in sales execution suggest potential for modest revenue and EBIT growth. The anticipated progress in go-to-market strategies and the potential for improved management clarity further support the positive outlook for Procore Technologies.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $75.00 price target.