Monday.com price target raised to $385 from $300 at Loop Capital

Loop Capital analyst Mark Schappel raised the firm’s price target on Monday.com (MNDY) to $385 from $300 and keeps a Buy rating on the shares. The company exited 2024 strong as Q4 revenue growth and profitability came in nicely ahead of expectations, with net dollar retention rate ending the period at 112% and operating margins of 15.0% coming at an all-time high, the analyst tells investors in a research note. The quarter was driven by strong execution, strength in the North American enterprise segment, stabilizing macro conditions outside the US, pricing improvements, and increasing contributions from the CRM and Services products, the firm added.