Monday.com, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Steve Enders from Citi maintained a Buy rating on the stock and has a $176.00 price target.
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Steve Enders has given his Buy rating due to a combination of factors, even as Monday.com’s latest quarter and outlook fell short of prior expectations. He views the stock’s current valuation as overly depressed relative to a business still projected to grow revenue in the high-teens, with an expanding product portfolio and rising contribution from AI capabilities, including early success monetizing new offerings like Vibe.
He also highlights strengthening traction with larger enterprises, evidenced by record additions of customers generating over $100k in annual revenue and accelerating contracted backlog growth. While acknowledging near-term pressure from weaker performance marketing returns in the SMB and self-serve channel, he believes these challenges are cyclical rather than structural and that the company’s long-term opportunity in multi-product work management and AI-driven upsell remains underappreciated by the market.
In another report released today, Needham also maintained a Buy rating on the stock with a $125.00 price target.