Procore price target raised to $75 from $70 at JMP Securities

JMP Securities raised the firm’s price target on Procore to $75 from $70 and keeps an Outperform rating on the shares. The company’s Q4 results were "solid" with calculated billings up 30% and cRPO growth of 34%, the analyst tells investors in a research note. The firm remains positive on the stock given Procore’s leading vendor position in a large and under-digitized market as well as its "durable" and attractive growth profile that demonstrated sustained momentum.