Procore price target lowered to $68 from $79 at KeyBanc

KeyBanc analyst Jason Celino lowered the firm’s price target on Procore to $68 from $79 and keeps an Overweight rating on the shares. Procore announced meaningful and unexpected GTM changes on its earnings call, which will likely overshadow its solid Q2 results, the analyst tells investors in a research note. These changes heighten near-term execution, but KeyBanc views the pullback as a buying opportunity.