Monday.com price target raised to $285 from $245 at Loop Capital

Loop Capital raised the firm’s price target on Monday.com to $285 from $245 and keeps a Buy rating on the shares. The company’s Q2 results were “solid” as revenue growth accelerated 34%, large customer adds were strong, non-GAAP operating margins were better than forecast, and revenue and profitability guidance went up by more than the quarter’s upside, the analyst tells investors in a research note. Loop adds that the quarter was driven by strong execution upmarket and success rolling out ongoing price hikes, also noting that the firm has not seen any degradation in retention despite macro choppiness.