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Stock impact report

Citi Maintains Neutral Outlook on Monday.com (MNDY) Amid Stable but Uncertain Software Demand [Yahoo! Finance]

monday.com Ltd. - Ordinary Shares (MNDY) 
Company Research Source: Yahoo! Finance
This sentiment came as Citi updated its application software models and noted a demand environment that is stable yet remains uncertain. Earlier on December 16, BTIG initiated coverage of Monday.com with a Buy rating and $210 price target. The firm highlighted that Monday.com is successfully evolving beyond its origins as a pure-play work management provider. BTIG estimates that the company's new product suite now generates ~$133 million in ARR (accounting for 10% of the total) and is expanding at an 84% year-over-year rate. The firm also noted that Monday.com Ltd. (NASDAQ:MNDY) is accelerating its go-to-market strategy by using this multi-product growth to move further upmarket. By focusing on larger enterprise clients and high customer retention, the company is positioning itself for a broader market presence. On December 10, Tigress Financial raised the firm's price target on Monday.com to $310 from $295 with a Buy rating on the shares. The firm argued that Monday.com is solidi Show less Read more
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