Monday.com price target raised to $245 from $230 at Loop Capital

Loop Capital raised the firm’s price target on Monday.com to $245 from $230 and keeps a Buy rating on the shares. The company reported a “solid but not spectacular” Q4 print and guidance as revenue accelerated 35%, retention stabilized, and operating margins were a record for Q4 at 10.5%, the analyst tells investors in a research note. The top-line beat came in a few million below the prior 8-quarter average that investors have come to expect and Q1 outlook was “just in line”, driving the post-earnings sell-off, Loop added. The firm maintains a “constructive” stance on the stock however given the company’s “competitive standing” and sees “ample growth levers” to scale revenue to $1B-plus.