JPMorgan lowered the firm’s price target on Monday.com (MNDY) to $350 from $400 and keeps an Overweight rating on the shares. The firm is “positively biased” going into Monday.com’s Q1 earnings report and expects the company to deliver a solid quarter. The setup for Q1 numbers looks achievable, the analyst tells investors in a research note. JPMorgan’s checks show the demand environment for Monday.com continues to be consistent, “with one partner noting that he has not seen a slowdown in leads flowing in.” It expects Monday to maintain a conservative guidance posture with respect to the full year constant currency guidance.
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