William Blair analyst Dylan Becker has reiterated their bullish stance on PCOR stock, giving a Buy rating yesterday.
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Dylan Becker has given his Buy rating due to a combination of factors including Procore Technologies’ strong quarterly performance and an optimistic outlook for the full year. The company has shown resilience in a stable macroeconomic environment and is gaining momentum after recent changes in its go-to-market strategy. This is evidenced by solid growth in committed remaining performance obligations and an increase in large deal activity, as clients focus on improving operational efficiency and productivity.
Additionally, Procore’s integrated platform is attracting widespread interest, which is driving cross-selling opportunities and enhancing the platform’s value and customer retention. The platform’s capabilities in automating workflows and supporting data-driven decisions are also seen as significant advantages. With a favorable setup for sustaining revenue growth and expanding margins through 2026, and a valuation at about seven times the sales estimate, Becker views the stock as an attractive investment, thus reaffirming the Outperform rating.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PCOR in relation to earlier this year.