Guggenheim starts Monday.com with a Buy, sees 64% potential upside

As previously reported, Guggenheim initiated coverage of Monday.com (MNDY) with a Buy rating and $250 price target representing 64% upside potential. Monday.com has transitioned from a viral, self-serve strategy to a more sales-led, multi-product and upmarket approach, notes the analyst, whose customer and partner checks indicate high expansion propensity, which the firm sees “supporting 20%+ growth potential for many years.”