Procore price target raised to $90 from $75 at JMP Securities

JMP Securities raised the firm’s price target on Procore (PCOR) to $90 from $75 and keeps an Outperform rating on the shares after attending the company’s annual Groundbreak Customer Conference in Denver, which included the November 21 Investor Day event. The firm’s checks suggest suggest tension on pricing with customers with one general contractor describing pricing as “a black box,” and another noting that it plans to lower volume commitment upon renewal and add any potential overage charges into bids, the analyst tells investors in a research note. While the company continues to view 2025 as a “transition year” as it recalibrates its go-to-market motion from a functional and personnel perspective, JMP continues to like Procore for long-term capital appreciation.