Monday.com price target raised to $270 from $230 at JPMorgan

JPMorgan raised the firm’s price target on Monday.com to $270 from $230 and keeps an Overweight rating on the shares. The higher target multiple reflects higher conviction about Monday.com’s general demand trends after speaking with the company, the analyst tells investors in a research note. The firm believes the company has the ability to continue to distinguish itself relative to its peers, driving a superior growth plus margin profile. JPMorgan believes Monday.com has executed really well in the last twelve months. The stock remains a top pick for 2024.