Procore price target raised to $84 from $82 at Piper Sandler

Piper Sandler raised the firm’s price target on Procore to $84 from $82 and keeps an Overweight rating on the shares. The company’s topline beat on revenue growth reinforces the firm’s bullish stance on the durability of its business model, the analyst tells investors. Despite increasing construction industry challenges, cRPO growth remaind resilient and the company’s order backlog remained healthy, the firm says.