UPDATE: Oppenheimer Initiates Coverage on Textura Corporation with Outperform Rating, $35 PT on Multiple Positive Factors

In a report published Tuesday, Oppenheimer analyst Brian Schwartz initiated coverage on

with an Outperform rating and $35.00 price target. In the report, Oppenheimer noted, “Textura (initiating Outperform rated; $35 target) is currently disrupting the collaboration intensive commercial construction market by bringing to the owners, general contractors and subcontractor masses an easy-to-use suite of SaaS products that improves productivity and lowers risk. Textura's endmarket (estimated ~$1.2B TAM presently) is on the cusp of a major expansion cycle after a lengthy downturn that should triple its TAM over the next few years. We think Textura's unique combination of simplicity, computing power, fast deployment, and network effects puts the company in an enviable position to take advantage of this large opportunity by addressing industry participants who mostly use manual processes (i.e., spreadsheets) or legacy, on-premise software, but not formal SaaS construction collaboration applications today.” Textura Corporation closed on Monday at $26.69.