Procore Technologies up after Baird initiates coverage with 'outperform'

Procore Technologies

24/09/2024 16:54

** Shares of construction management software firm Procore
Technologies  PCOR.N  up 4% at $61.2
    ** Baird initiates coverage of PCOR with "outperform" rating
and price target of $73
    ** Procore's approach to product development and customer
success has resulted in strong industry advocacy, manifesting in
levels of adoption that stand out when compared to peers,
brokerage says
    ** Following near-term increase in investment levels, expect
sales and marketing efficiency to track better than what PCOR
has previously signaled, Baird adds
    ** 12 of 21 brokerages rate the stock "buy" or higher, nine
"hold"; their median PT is $63- LSEG
    ** PCOR has fallen 11.5% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))