Goldman Sachs keeps a Buy rating and $270 price target on Monday.com after its first Investor Day presentation yesterday. The firm is starting to view the company as one of the best positioned names within software as the company increasingly becomes a strategic platform for enterprises, the analyst tells investors in a research note. The firm adds that the disclosure of $835M ARR in 2023 implies 5% upside to Q4 revenue outlook, while the company’s mid-term guidance of high 20%- low 30% top-line growth further supports its view that Monday is executing in front of a vast addressable market and has the potential to reach $2B in revenue by FY27.
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