Monday.com price target lowered to $220 from $270 at KeyBanc

KeyBanc lowered the firm’s price target on Monday.com (MNDY) to $220 from $270 and keeps an Overweight rating on the shares. The firm says Monday.com’s upcoming quarter and guidance carry a little more weight than usual. The fourth quarter results and initial full-year guidance cycle are always more important, but this company in particular finds itself in a tough spot and the chatter on the near-term outlook has risen and risen in recent weeks, KeyBanc argues. The firm is hoping this guidance game can be a reset of sorts and we can get back to analyzing fundamental merits, but for now a point of growth here or there is material.