Procore price target lowered to $85 from $90 at Stifel

Stifel lowered the firm’s price target on Procore to $85 from $90 and keeps a Buy rating on the shares. While the firm sees “a good chance” that Procore will deliver 20%-plus growth in FY25 when “all is said and done,” it does not expect initial guidance to “start with a two-handle,” the analyst tells investors in a Q2 preview note. Procore reports fiscal Q2 results in late July or early August, though no date is set yet, the analyst noted.