On Friday, Procore Technologies earned a positive adjustment to its Relative Strength (RS) Rating, from 67 to 79.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves. See if Procore Technologies can continue to show renewed price strength and clear that threshold.
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Procore Technologies is still within a buy zone after breaking past a 74.11 entry in a cup with handle. Once a stock moves 5% or higher beyond the initial entry, it's considered out of a proper buy zone.
The company showed 167% EPS growth in its most recent report, while sales growth came in at 19%.
Procore Technologies earns the No. 9 rank among its peers in the Computer Software-Enterprise industry group. Samsara, ServiceNow and Palantir Technologies are among the top 5 highly rated stocks within the group.
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