UPDATE: Northland Capital Markets Starts Textura Corp (TXTR) at Outperform

Northland Capital Markets initiated coverage on Textura Corp (NYSE: TXTR) with an Outperform rating and a price target of $40.00.

Analyst Jeff Houston commented, "Textura’s disruptive technology is modernizing the large and underpenetrated commercial construction industry. The company enjoys first-mover advantage and pricing power. It has a plethora of opportunities to cross-sell and expand both globally and into adjacent markets. Textura’s flagship offering, construction payment management (CPM), represents 60% of total revenue and we like that subcontractors (subs) generate most (75%) of CPM revenue and are required by Textura’s general-contractor (GC) clients to use the solution. While functionality of its non-CPM products (addressing most of the construction lifecycle) is in line with competition, they will be significantly differentiated once integrated with single-sign-on, common database, and sharing information—a two-year project with portions delivered along the way. Eventually, for example, a GC will know what a sub has done in the past as well as their overall financial exposure."

For an analyst ratings summary and ratings history on Textura Corp click here. For more ratings news on Textura Corp click here.

Shares of Textura Corp closed at $28.22 yesterday.

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