Monday.com price target raised to $250 from $230 at Jefferies

Jefferies raised the firm’s price target on Monday.com to $250 from $230 and keeps a Buy rating on the shares after its Q4 earnings beat and guidance. The company’s outlook still looks conservative, and the firm believes that Monday.com will hit or beat its above-consensus estimates, the analyst tells investors in a research note. Jefferies adds that the company’s management is embedding extra cushion due to newer dynamics such as price increases and adoption of add-on products, as well as assuming net dollar retention won’t rebound until the second half of 2024.