Citi lowered the firm’s price target on Monday.com (MNDY) to $176 from $230 but keeps a Buy rating on the shares. The firm cites the company’s “disappointing” Q4 while also noting that headwinds continue to center in small-business and Product-Led Growth motion, where ROI on marketing spend remains weaker or not recovering as expected. Citi adds however that it sees a “disconnected” valuation for Monday.com as a a high-teens grower with multi-product and AI upside.
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