Canaccord lowered the firm’s price target on Monday.com (MNDY) to $350 from $375 and keeps a Buy rating on the shares. The firm said the company reported solid Q1 results with revenue upside relative to guidance consistent, if not a bit better than prior quarters, gross margins came in at 90%, and the firm generated 39% FCF margins in the quarter, helping to sustain long term FCF margins.
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