Monday.com initiated with an Outperform at Wolfe Research

Wolfe Research analyst Alex Zukin initiated coverage of Monday.com with an Outperform rating and $300 price target. The firm says that as the “growth narrative gets evermore scarce” in software-as-a-service, investors need a product cycle, the ability to take price and enter new buying centers, and do all of that while having robust incremental margins. Monday.com “has all of that,” the analyst tells investors in a research note. Wolfe recommends the stock for long-term oriented investors “looking for durable growth, excellent management and profitability.”