Procore price target lowered to $80 from $91 at KeyBanc

KeyBanc lowered the firm’s price target on Procore (PCOR) to $80 from $91 to reflect the recent pullback in software valuation, while keeping an Overweight rating on the shares. Heading into the company’s Q4 print, the firm again sees upside to headline cRPO growth estimates, with normalized cRPO growth remaining in the mid-teens.