Mizuho has revised its price target for Procore Technologies, Inc. (PCOR, Financial), reducing it from $75 to $65, while maintaining a Neutral rating on the stock. This adjustment is part of a broader evaluation of the software sector as the firm anticipates upcoming first-quarter earnings reports.
The adjustment in Procore's price target is attributed to the recent compression of software market valuation multiples. Despite this, Mizuho suggests that the current selloff in the sector could present a favorable buying opportunity for investors seeking long-term gains.
Looking ahead, Mizuho forecasts robust performance in first-quarter earnings across the software sector. Nevertheless, the firm anticipates cautious commentary from management regarding the fiscal outlook for the remainder of the year. Additionally, they have assessed that tariffs are unlikely to have a significant impact on the core fundamentals of the software-as-a-service industry.
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 44.66% from the current price of $60.53. 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 58.09% from the current price of $60.53. 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.
