Monday.com, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Matt Bullock from Bank of America Securities reiterated a Buy rating on the stock and has a $240.00 price target.
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Matt Bullock has given his Buy rating due to a combination of factors that highlight the potential for Monday.com’s long-term growth despite recent challenges. The company’s stock has seen a significant decline, which Bullock believes has already factored in the current headwinds related to AI disruptions in the Google/SEO channel. This presents an opportunity for investors as the stock is undervalued relative to its longer-term prospects.
Moreover, Monday.com boasts a strong product suite and a robust financial profile, which includes a high free cash flow margin and revenue growth. The company is also experiencing significant growth in its CRM segment, with annual recurring revenue reaching impressive levels. Bullock acknowledges the short-term challenges but remains optimistic about the company’s ability to leverage its market execution and differentiated marketing strategies to drive future growth.
In another report released today, Barclays also maintained a Buy rating on the stock with a $258.00 price target.
MNDY’s price has also changed dramatically for the past six months – from $327.920 to $174.130, which is a -46.90% drop .