William Blair analyst Arjun Bhatia has reiterated their bullish stance on MNDY stock, giving a Buy rating yesterday.
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Arjun Bhatia has given his Buy rating due to a combination of factors that suggest a positive outlook for Monday.com despite some short-term challenges. The company exceeded third-quarter revenue expectations with a 26% growth, although its fourth-quarter guidance was slightly below consensus due to a strategic shift in performance marketing spend from Google to other channels. This shift is expected to create a temporary dip in performance, but it primarily affects a smaller segment of Monday’s business, not the core areas that drive the analyst’s positive thesis.
Despite the short-term softness, Bhatia remains optimistic about Monday.com’s long-term prospects, particularly its upmarket progress, multiproduct growth, platform advantages, and emerging AI initiatives. The company has expressed confidence in meeting its 2026 consensus estimates and reiterated its ambitious 2027 revenue target, suggesting a strong growth trajectory. The current share price, trading at a reasonable multiple of 14.2 times 2027 free cash flow, presents a buying opportunity as the core business remains robust and the temporary headwinds are expected to be resolved by 2026.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $209.00 price target.