KeyBanc analyst Jason Celino raised the firm’s price target on Monday.com to $200 from $180 and keeps an Overweight rating on the shares. The firm cites 10-times 2024 EV/sales on increased momentum in Monday CRM adoption. Supported by momentum in Enterprise, strengths in performance-based marketing, and growing traction of the Work OS add-ons, KeyBanc believes a valuation premium is warranted.
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