Procore price target raised to $75 from $60 at Loop Capital

Loop Capital analyst Mark Schappel raised the firm’s price target on Procore to $75 from $60 but keeps a Hold rating on the shares. The company’s Current Remaining Performance Obligation , or CRPO, and operating margins topped expectations but the management’s macro commentary continued to emphasize the cautious demand environment, particularly with SMB general contractors, the analyst tells investors in a research note.