Michael Funk, an analyst from Bank of America Securities, reiterated the Buy rating on Monday.com (MNDY – Research Report). The associated price target is $355.00.
Michael Funk’s rating is based on Monday.com’s significant interest and debates surrounding its upcoming 4Q24 results. The company’s anticipated 2025 guidance and the performance of its Monday Service and Development segments are central to the discussions. Despite management’s comments on macroeconomic weaknesses, particularly in Europe and the UK, Funk maintains a Buy rating with a price objective of $355, supported by a 13.9x 2025E EV/Revenue target multiple.
Funk anticipates a 25% year-over-year revenue growth in 2025, which aligns closely with sell-side consensus. He acknowledges the potential challenges posed by foreign exchange headwinds that might impact 4Q results. Nonetheless, Funk remains optimistic about Monday.com’s growth prospects, particularly with the launch of Monday Service and the ongoing interest in Monday Development, which are expected to enhance the company’s revenue streams.
In another report released on February 4, Wells Fargo also maintained a Buy rating on the stock with a $340.00 price target.