William Blair analyst Arjun Bhatia has maintained their bullish stance on MNDY stock, giving a Buy rating on August 6.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Arjun Bhatia has given his Buy rating due to a combination of factors including Monday.com’s impressive second-quarter performance and strategic advancements. The company reported results that exceeded expectations, with revenue surpassing estimates by $6 million and a year-over-year growth of 27%. Additionally, the adjusted free cash flow was significantly higher than anticipated, reflecting a strong financial position.
Moreover, Monday.com has demonstrated robust growth in its upmarket segments, particularly among customers with $100,000-plus annual recurring revenue, indicating solid traction in higher-value markets. The company’s CRM has reached over $100 million in ARR, and the introduction of new AI capabilities suggests a strategic evolution towards enhancing work execution. These developments collectively underpin Arjun Bhatia’s confidence in Monday.com’s potential for continued growth, justifying the Buy rating.
Bhatia covers the Technology sector, focusing on stocks such as InterDigital, NICE, and Zeta Global Holdings Corp. According to TipRanks, Bhatia has an average return of 0.8% and a 41.69% success rate on recommended stocks.
In another report released on August 6, Robert W. Baird also upgraded the stock to a Buy with a $310.00 price target.