UPDATE: Jefferies Starts Procore Technologies, Inc (PCOR) at Hold

June 14, 2021 2:40 AM EDT
Get Alerts PCOR Hot Sheet
Price: $101.02 --0%

Rating Summary:
    8 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 21 | New: 45
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(Updated - June 14, 2021 7:50 AM EDT)

Jefferies analyst Brent Thill initiates coverage on Procore Technologies, Inc (NYSE: PCOR) with a Hold rating and a price target of $90.00.

The analyst commented, "We are fundamental fans of PCOR for three reasons. 1) Housing inventory shortage will drive construction volumes higher in '21, which will be a NT catalyst. 2) TAMpenetration and an under-digitized construction industry show long runway for growth.3) International opportunity to drive growth. However, PCOR trades at a premium valuation of 19x '22E rev. vs. comps at 14x, which we believe is fair. Initiate at Hold and $90 PT."

For an analyst ratings summary and ratings history on Procore Technologies, Inc click here. For more ratings news on Procore Technologies, Inc click here.

Shares of Procore Technologies, Inc closed at $83.99 yesterday.

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