Procore Technologies Analysts Increase Their Forecasts After Strong Results
Portfolio Pulse from Avi Kapoor
Procore Technologies, Inc. (NASDAQ:PCOR) exceeded Q4 earnings and sales expectations, with adjusted earnings of 17 cents per share against an estimate of 7 cents, and sales of $260.04 million versus the expected $248.27 million. The company also highlighted its achievement of surpassing $1B in total annual recurring revenue and its status as a top workplace in technology. Following the report, Piper Sandler and Keybanc raised their price targets for PCOR, with shares increasing by 0.8% to $75.18.
February 16, 2024 | 4:06 pm
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Procore Technologies reported strong Q4 results, surpassing earnings and sales estimates, and achieved significant milestones including $1B in annual recurring revenue. Analysts from Piper Sandler and Keybanc raised their price targets for PCOR.
The positive earnings and sales report from Procore Technologies, coupled with the achievement of surpassing $1B in annual recurring revenue, indicates strong company performance and growth potential. The subsequent increase in price targets by analysts from Piper Sandler and Keybanc further supports a positive outlook for PCOR's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100