Canaccord analyst David Hynes lowered the firm’s price target on Monday.com to $220 from $250 and keeps a Buy rating on the shares. The firm noted its valuation is far more reasonable after a selloff in the software sector, and they’re now to the point where we can value the stock on a cash flow multiple that actually makes sense.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MNDY:
- ‘There’s More Room for Upside’: Wells Fargo Says Buy These 2 Stocks for Double-Digit Returns
- Yum! downgraded, Cava upgraded: Wall Street’s top analyst calls
- Monday.com downgraded to Neutral from Buy at Citi
- GE Aerospace upgraded, AmEx downgraded: Wall Street’s top analyst calls
- Monday.com initiated with an Overweight at Wells Fargo