Monday.com price target raised to $205 from $180 at Loop Capital

Loop Capital analyst Mark Schappel raised the firm’s price target on Monday.com to $205 from $180 and keeps a Buy rating on the shares. The company’s Q2 results were stronger than expected, with new customer momentum remaining healthy and cross-sell activity around the relatively new CRM and development solutions becoming an increasingly additive part of the mix, the analyst tells investors in a research note. The firm adds that qualitative commentary around the pipeline and cross-sell activity was equally upbeat, and Loop Capital expects the steady execution to continue through the back half of the year.