Goldman Sachs lowered the firm’s price target on Monday.com (MNDY) to $270 from $350 and keeps a Buy rating on the shares. The stock fell 30% after earnings as investors react to contracting customer adds, material step downs in new product net adds, and small business headwinds, the analyst tells investors in a research note. For a growth company, a negative inflection in the channel, sourcing leads, and new product momentum could have outsized impacts to both short-term and long-term growth potential, the firm adds.
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