Barclays has adjusted its outlook on Procore Technologies (PCOR, Financial), reducing the price target for the company's shares from $90 to $70. This revision comes as part of their first-quarter preview for multiple firms reporting in sectors like security, design, and vertical software-as-a-service.
The financial institution maintains an 'Equal Weight' rating on Procore stock, indicating a neutral stance regarding its performance relative to the market. This assessment suggests that Barclays forecasts the stock will perform in line with the broader market trends over the near term.
Procore Technologies, a player in construction management software, is among 16 companies being evaluated by Barclays as they prepare for their cycle of quarterly financial disclosures. Investors may wish to note these updated expectations as indicators of potential shifts in market sentiment regarding Procore's future performance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Procore Technologies Inc (PCOR, Financial) is $87.56 with a high estimate of $110.00 and a low estimate of $65.00. The average target implies an upside of 44.49% from the current price of $60.60. More detailed estimate data can be found on the Procore Technologies Inc (PCOR) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Procore Technologies Inc's (PCOR, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Procore Technologies Inc (PCOR, Financial) in one year is $95.69, suggesting a upside of 57.9% from the current price of $60.6. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Procore Technologies Inc (PCOR) Summary page.
