Morgan Stanley analyst Josh Baer upgraded the rating on Monday.com to a Buy today, setting a price target of $260.00.
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Josh Baer has given his Buy rating due to a combination of factors that highlight Monday.com’s strategic positioning and market potential. The company is making significant strides by moving upmarket, expanding its product offerings, and adopting a sales-led growth approach. These initiatives, while risky, are backed by a strong foundation and present a substantial opportunity that appears undervalued given the current market metrics.
Despite a recent underperformance compared to its peers, the stock’s valuation has become more attractive. The shares have dropped significantly, creating a favorable entry point for investors. Monday.com is recognized as a leader in work management, with robust execution capabilities and a promising outlook for penetrating new market segments. This combination of factors underpins the Buy rating, as the company is well-positioned for sustainable growth at an appealing price point.
In another report released today, Barclays also maintained a Buy rating on the stock with a $258.00 price target.