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Piper Sandler sees 2023 as ‘pivotal year’ for Monday.com
The Fly

Piper Sandler sees 2023 as ‘pivotal year’ for Monday.com

Piper Sandler analyst Brent Bracelin sees 2023 as "pivotal year" for Monday.com where it "could blossom into a no-code automation platform." Meetings last week with management strengthen his confidence and positive bias that the company can build a profitable software franchise with a 90% gross margin model capable of scaling to $1B revenue by 2025. After the 67% year-to-date selloff, growth investors willing to underwrite at least a one year investment should revisit Monday.com, Bracelin tells investors in a research note. He keeps an Overweight rating on the shares with a $138 price target.

Published first on TheFly

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