William Blair analyst Arjun Bhatia has reiterated their bullish stance on MNDY stock, giving a Buy rating yesterday.
Arjun Bhatia has given his Buy rating due to a combination of factors including the strategic appointment of Casey George as the new Chief Revenue Officer at Monday.com. George’s extensive experience in go-to-market strategies and leadership in companies handling larger deals positions him well to drive Monday.com’s growth, particularly as the company aims to expand its reach into the upmarket segment.
Furthermore, Monday.com’s commitment to enhancing its sales organization is evident, with plans to increase headcount by 30% in 2025. This investment strategy has already yielded significant results, as demonstrated by the substantial increase in the number of customers with contracts exceeding $50,000. With George focusing on upmarket expansion, meeting sales hiring targets, and integrating various go-to-market strategies, Bhatia sees a strong potential for Monday.com’s continued success, justifying the Buy rating.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $360.00 price target.