Monday.com price target raised to $310 from $295 at Canaccord

Canaccord raised the firm’s price target on Monday.com (MNDY) to $310 from $295 and keeps a Buy rating on the shares. The firm said net revenue retention ticked up by a point sequentially, to 111%, helped along by record gross retention and price increases reaching more of the base, and customer additions in the firm’s $50K+ and $100K+ cohorts remained healthy, growing 40% and 44%, but there were signs of some softening trends elsewhere in the business, which is likely leading to the weakness in the shares.