As previously reported, BofA downgraded Monday.com (MNDY) to Neutral from Buy with a price target of $205, down from $240. Search engine optimization driven website visits to Monday.com sank by an average of 23.5% year-over-year in Q2 and declines accelerated to 25.3% in July, according to Similarweb data, reports the analyst. If July traffic trends were to persist, the company could face material self-serve pressures in the second half and 2026, the analyst tells investors. Despite recent pressure on shares, the firm concludes that fundamental challenges and “a potentially gnawing AI search disruption bear narrative” make the risk/reward balanced, the analyst added.
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