Howard Ma, an analyst from Guggenheim, has initiated a new Buy rating on Monday.com (MNDY).
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Howard Ma has given his Buy rating due to a combination of factors, primarily highlighting Monday.com’s strong position in the work management software market. The company boasts a substantial customer base with over 250,000 customers and 2.5 million paying users, which underscores its market penetration and growth potential.
Additionally, Monday.com’s strategic shift from a viral, self-serve model to a more structured approach is seen as a positive development that could enhance its market reach and revenue generation capabilities. This transition is expected to drive significant upside potential, with a price target set at $250, indicating a 64% increase from current levels.
Ma covers the Technology sector, focusing on stocks such as Pure Storage, MongoDB, and Elastic. According to TipRanks, Ma has an average return of 10.4% and a 50.72% success rate on recommended stocks.