Procore price target raised to $70 from $63 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Procore (PCOR) to $70 from $63 and keeps an Overweight rating on the shares. The firm applauds the team for presenting a 2025 preliminary growth outlook given a wide range of Street estimates that varied between 11.5% and 15.6%. While the 11% initial outlook is below Street consensus of 14%, Piper thinks this is prudently conservative and could be viewed by the bulls as a clearing event that factors in the continuation of internal and external headwinds.