DA Davidson has revised its price target for Procore Technologies (PCOR, Financial) from $80 to $60, maintaining a Neutral stance on the company's stock. This adjustment comes as part of a comprehensive review of the software sector, reflecting updated economic forecasts.
The firm is now projecting that the United States may experience one or two quarters of negative GDP this year. This economic outlook has led to expectations of slower growth and subsequently lower valuations within the market.
Additionally, DA Davidson has highlighted potential declines in consumer spending and corporate investment arising from the current tariff environment and broader economic uncertainties, affecting projections for the near future.
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 45.12% from the current price of $60.34. 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 58.59% from the current price of $60.3375. 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.
