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Procore price target raised to $92 from $85 at JPMorgan
The Fly

Procore price target raised to $92 from $85 at JPMorgan

JPMorgan analyst Alexei Gogolev raised the firm’s price target on Procore (PCOR) to $92 from $85 and keeps an Overweight rating on the shares. The firm says vertical software-as-a-service companies continue to take share from “outdated homegrown solutions and horizontal SaaS competitors.” Looking into 2025, the analyst maintains a preference for companies “with strong competitive moats” like Guidewire Software (GWRE) and Tyler Technologies (TYL). The “massive premium” of vertical SaaS companies versus the broader SaaS sector is justified with a sustainable revenue and earnings growth outlook, the analyst tells investors in a research note.

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