Needham analyst Scott Berg maintained a Buy rating on Monday.com (MNDY – Research Report) today and set a price target of $400.00.
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Scott Berg’s rating is based on Monday.com’s impressive first-quarter performance, highlighted by significant growth in large customer acquisitions and improved net dollar retention metrics. The recent appointment of a new Chief Revenue Officer, Casey George, is expected to sustain this upward market momentum into the second half of 2025 and beyond. Additionally, the company’s free cash flow margins reached an all-time high of 38%, underscoring its unique blend of growth and profitability.
Furthermore, Monday.com’s platform continues to expand with strong additions in CRM and development, while its service offerings are still in the early stages. The increasing traction in AI usage, although not yet reflected in the current financial guidance, presents a potential upside for the latter half of 2025. Despite macroeconomic uncertainties, the company’s pipeline trends remain unaffected, prompting management to issue a conservative guidance. These factors collectively contribute to Scott Berg’s Buy rating for Monday.com.
In another report released today, Barclays also maintained a Buy rating on the stock with a $345.00 price target.