UPDATE: Procore Technologies, Inc (PCOR) PT Raised to $115 at Piper Sandler in its First Public Report

Piper Sandler analyst Brent Bracelin raised the price target on Procore Technologies, Inc (NYSE: PCOR) to $115.00 (from $100.00) after the company reported all key metrics (revenue, margins,
and CFFO/FCF) above Street expectations in its first public report.

The analyst reiterated the Overweight rating, stating "Net/net, we continue to believe a number of industry drivers (e.g., population growth, urbanization, maintenance/repairs of existing infrastructure, and digital native employees entering the construction workforce) and company-specific drivers (e.g., new logos, up/crosssells, new products such as the upcoming payments product, and international expansion) offer plenty of opportunity for at least 20% top-line growth and improving profitability in coming years. Given this backdrop, we believe shares can see multiple expansion as these dynamics continue to play out."

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