JMP Securities raised the firm’s price target on Procore to $81 from $69 and keeps an Outperform rating on the shares. After conducting some industry due diligence ahead of the Q4 earnings report on February 15, the firm found evidence of a potential eight-figure deal via publicly available sources and also found a number of instances of strong sales attainment for Q4 and FY23, the analyst tells investors in a research note. JMP continues to like Procor as it remains the leading vendor in a large and under-digitized market.
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