Needham analyst Scott Berg has maintained their bullish stance on MNDY stock, giving a Buy rating today.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Scott Berg’s rating is based on Monday.com’s strong fourth-quarter performance, driven by robust enterprise strength and solid demand in the United States. The company’s ability to maintain stable demand in other regions, despite some weakness in Europe being less severe than anticipated, further supports the positive outlook. Additionally, Monday.com has shown success in attracting larger clients and expanding its existing customer base, as evidenced by the impressive net additions in customers with $50k+ and $100k+ annual recurring revenue.
The launch of new services, including the general availability of Service, has yielded strong initial results, particularly in cross-selling and generating high average contract value. The company’s strategic focus on integrating AI into its platform, along with plans for future digital workforce solutions, indicates a forward-looking approach that could drive further growth. Furthermore, the revenue guidance for fiscal year 2025 surpassed expectations, and the anticipated growth in fiscal year 2026 supports a price target of $400. These factors collectively justify the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $325.00 price target.