TD Cowen lowered the firm’s price target on Monday.com (MNDY) to $250 from $290 and keeps a Buy rating on the shares. The firm said strong up-market trends were overshadowed by choppiness down-market due to continued top-of-funnel crosscurrents from AI Search. They were encouraged by growth acceleration in RPO bookings and upticks in $50k+ NDR and net new customer growth and believe the latter motions will pay strong dividends medium-term.
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