Procore price target raised to $87 from $82 at BMO Capital

BMO Capital raised the firm’s price target on Procore (PCOR) to $87 from $82 and keeps an Outperform rating on the shares. The company’s Q3 results showed good upside on revenue and margin, and a solid cRPO growth outcome in the mid-teens adjusting for duration changes, the analyst tells investors in a research note. Progress appears to be evident in some of the sales organization changes, which suggests better momentum heading into next year, the firm added.