DA Davidson keeps a Buy rating and $275 price target on Monday.com (MNDY) heading into the company’s earnings, anticipating upside to estimates given an inflection in growth of website traffic. Last quarter, changes to the Google Search algorithm sparked fears that monday.com’s efficient growth algorithm was at risk, leading to an excessive sell-off and with shares still 20% below levels prior to last quarter’s results, but website traffic data suggests that the management has successfully navigated these changes, the analyst tells investors in a research note.
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