Jefferies keeps a Buy rating and $230 price target on Monday.com, saying the company’s recently increased prices by $1-4 per seat per month comes earlier than the planned increases targeted for the second half of the year as announced at the December 6th analyst day. The earlier-than-expected rollout increases the potential for FY24 revenue contribution and reinforces the firm’s positive fundamental thesis on Monday.com as a “multi-year winner in the collaboration software space”, the analyst tells investors in a research note.
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