Jefferies analyst Brent Thill lowered the firm’s price target on Monday.com (MNDY) to $300 from $330 and keeps a Buy rating on the shares following the Q3 report. The company’s fiscal year revenue guide range was not raised for first time in its history and the Q4 outlook missed by 1%, raising questions about the end of Monday.com’s “beat and raise cadence,” the analyst tells investors in a research note. However, Jefferies believes the company’s up-market move continues to work.
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