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Procore assumed with a Neutral at DA Davidson

DA Davidson assumed coverage of Procore (PCOR) with a Neutral rating with a price target of $70, up from $60. The firm notes that the company has continued to effectively navigate a depressed macro environment, delivering revenue outperformance relative to our estimates, with upside driven by better than expected new logo growth and ARPC expansion, the analyst tells investors in a research note.

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