Jefferies analyst Brent Thill raised the firm’s price target on Monday.com to $300 from $270 and keeps a Buy rating on the shares. Despite the choppy macro environment, Monday.com continues to deliver high growth in app software, with Q2 revenue up 34% and FY24 guidance raised to 31%-32% from 29%-30%, the analyst tells investors in a research note. Demand is steady across both SMBs and enterprises as Monday signed its largest deal to date and free cash flow continues to impress, Jefferies says.
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