Monday.com (MNDY – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Brent Thill from Jefferies maintained a Buy rating on the stock and has a $250.00 price target.
Brent Thill’s rating is based on a comprehensive analysis of Monday.com’s recent performance and future prospects. Despite a post-earnings sell-off, Thill remains optimistic about the company’s potential, noting that the guidance provided seems conservative. He believes that the company’s financial outlook for FY24 is likely to meet or exceed his expectations, which are already above the consensus. Thill sees the management’s cautious approach as a strategic embedding of extra cushion, anticipating the effects of new pricing strategies and the adoption of additional products, while also considering a rebound in Net Dollar Retention (NDR) in the second half of 2024.
Thill’s confidence in Monday.com is further reinforced by the company’s consistent pace of innovation, which he compares to the evolution of Salesforce.com into a comprehensive platform. This trajectory suggests a promising future for Monday.com as it continues to expand and enhance its offerings. As a result of this analysis, Thill maintains a Buy rating on the stock and has increased the price target to $250, signaling his belief in the stock’s growth potential and affirming his positive outlook on the company’s strategic direction and market position.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $277.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Monday.com (MNDY) Company Description:
Monday.Com Ltd is a project management tool that enables organizations to manage tasks, projects, and teamwork. It provides solutions such as Project Management, Marketing, Sales and CRM, Task Management, Software Development, Construction, Creative Production, Remote Work, HR, IT, among others.
Read More on MNDY:
- Monday.com (NASDAQ:MNDY) Dips Even after Q4 Earnings Beat
- MNDY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Monday.com price target raised to $250 from $200 at Canaccord
- Monday.com price target raised to $238 from $220 at KeyBanc
- JPMorgan SMid Cap software analyst to hold analyst/industry conference call
