Morgan Stanley analyst Josh Baer maintained a Hold rating on Monday.com today and set a price target of $330.00.
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Josh Baer has given his Hold rating due to a combination of factors impacting Monday.com’s stock performance. The primary reason for the Hold rating is the broader market sentiment surrounding AI and the shift away from seat-based application software, which has affected Monday.com’s stock more than any immediate concerns about its quarterly results. Despite this, the company’s execution and momentum remain strong, and there is potential for growth, making the stock’s valuation more appealing on an absolute basis.
However, when comparing Monday.com to its peers, the relative performance change is less significant, with Monday.com experiencing a smaller decline compared to its competitors over the past three months. This relative stability suggests that while the stock has potential, the market’s reaction to its positioning and future guidance remains uncertain, justifying a Hold rating at this time.
Baer covers the Technology sector, focusing on stocks such as Monday.com, Asana, and Lightspeed POS Inc. According to TipRanks, Baer has an average return of 4.2% and a 53.54% success rate on recommended stocks.
In another report released on August 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $271.00 price target.