Berenberg has started covering Procore Technologies, Inc (NYSE:PCOR) with a Buy rating and a price target of $84.00, suggesting it can grow from its current price of $71.73. Procore stands out in the construction market due to its cloud-based platform, which meets the demand for integrated technology. Growth forecasts for Procore indicate a rebound from a recent slowdown. Berenberg predicts that revenue growth will pick up, expecting EBIT margins to reach 29% by 2030, thanks to operational efficiency and market recovery. Confidence in this outlook is strengthened by the appointment of Dr. Ajei Gopal as CEO, known for successfully expanding vertical software. Berenberg’s valuation highlights Procore’s transformation into a high-quality software company. Recently, Ajei Gopal was named as the new CEO, effective November 10, 2025, following the third-quarter earnings report. He succeeds founder Tooey Courtemanche, who will take on the role of Executive Chair. BMO Capital has given Procore an Outperform rating with a price target of $82.00, influenced by the leadership change. Stifel also maintained a Buy rating with an $80.00 target, while Goldman Sachs raised its target to $87.00. Citizens JMP holds a Market Perform rating as Courtemanche moves to Chairman of the Board. Overall, there is strong agreement in the market that Procore is a Buy, with price targets between $80 and $87. This signals a good upside potential from its current price near $72. The consensus reflects the belief that Procore is a market leader ready for accelerated growth. The leadership transition on November 10th is an important factor, with the new CEO bringing a strong track record. During Dr. Gopal’s time leading Ansys from 2017 until early 2024, their stock price more than tripled. This history boosts expectations for his ability to enhance profitability at Procore. This optimism is not only company-specific but also stems from a recovering broader market. For example, the U.S. Census Bureau’s report for August 2025 noted a 1.2% increase in construction spending, exceeding expectations and marking three months of growth in a row. This macro trend supports Procore’s anticipated growth. Considering these factors, we are looking into bullish call option strategies before the early November earnings and the CEO’s start date. We have noticed an increase in open interest for the November and December 2025 call options, especially at the $75 and $80 strike prices. As news may raise implied volatility, traders might explore bull call spreads to manage risk and reduce entry costs.

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