Piper Sandler raised the firm’s price target on Monday.com to $250 from $225 and keeps an Overweight rating on the shares. The firm enters 2024 with a higher degree of optimism for application software based on stabilizing demand fundamentals after two years of moderation, a declining interest rate backdrop sparking greater appetite for growth stocks, new secular tailwinds for cloud and data driven by a generational shift to AI, CIO survey optimism showing accelerating cloud and AI spending intentions, and favorable risk-reward scenarios on 2025 metrics.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MNDY:
- Monday.com assumed at Neutral from Buy at DA Davidson
- INTU, NOW, MNDY: Which Enterprise Software Stock is the Best Buy?
- Monday.com added to Analyst Focus List at JPMorgan
- MNDY, TTD: 2 “Strong Buy” Stocks Hedge Fund Managers Favor
- Monday.com becoming more strategic platform for enterprises, says Goldman Sachs