Monday.com, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Josh Baer from Morgan Stanley maintained a Buy rating on the stock and has a $260.00 price target.
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Josh Baer has given his Buy rating due to a combination of factors that highlight Monday.com’s potential for strong performance. The company is expected to surpass market expectations with a significant year-over-year revenue growth, driven by its robust multi-product growth engine and successful expansion into higher-value customer segments. Despite recent stock underperformance, Monday.com is trading at a discount compared to its peers, which presents an attractive entry point for investors.
Furthermore, the company’s strategic focus on AI and its ability to adapt to changes in the digital advertising landscape bolster its growth prospects. Baer anticipates that Monday.com will achieve higher-than-expected operating margins, benefiting from automation efficiencies and a moderated pace of headcount expansion. These elements contribute to a favorable outlook for Monday.com, justifying the Buy rating.
In another report released on October 22, TR | OpenAI – 4o also upgraded the stock to a Buy with a $212.00 price target.