Monday.com price target raised to $170 from $160 at DA Davidson

DA Davidson raised the firm’s price target on Monday.com to $170 from $160 and keeps a Neutral rating on the shares. The company’s Q2 results featured a mix of strength and continued headwinds, but with some encouraging signs as revenue growth remained over 40% and margin performance was solid as spend discipline continues, the analyst tells investors in a research note. The magnitude of the beats in the quarter and revisions to annual guidance were smaller than usual, but remained positive and demonstrate good execution through an uneven demand environment, the firm added.