Monday.com price target lowered to $381 from $410 at Citi

Citi lowered the firm’s price target on Monday.com (MNDY) to $381 from $410 and keeps a Buy rating on the shares. Monday reported a “solid” Q1 with “healthy” core customer metrics, while guidance was “conservatively” nearly maintained excluding forex, though Q2 was guided below expectations for both revenue and EBIT, the firm says. While “encouraged” by steady execution and macro resilience, the firm trimmed its target due to macro conservatism and an updated valuation.