KeyBanc Initiates Coverage On Monday.com, Smartsheet, Asana In Work Management Software Category

KeyBanc analyst Jason Celino initiated coverage of Monday.com Ltd MNDY with an Overweight rating and a $135 price target.
He believes Monday.com is best positioned to sustain 30%-plus growth for at least the next two years among its work management peers.
He believes the company's modular Work OS platform strategy provides go-to-market and competitive differentiation.
The price target reflected a premium in line with other 30%+ growth SaaS.
Celino initiated coverage of Smartsheet Inc SMAR with an Overweight rating and a $46 price target.
He believes Smartsheet is ready to be a leading player in the work management software category.
With one of the more apparent paths to profitability among work management peers, he saw an underappreciated high growth + margin improvement story.
Celino initiated coverage of Asana, Inc ASAN with a Sector Weight rating.
CEO Dustin Moskovitz has potentially set Asana on an ambitious path to winning the work management software category.
With its disruptive platform strategy, momentum at the enterprise, and several mentions of wall-to-wall customer deployments, he believes Asana is executing well.
Despite the market pullback and valuation, he saw a balanced risk-reward.
Price Action: MNDY shares traded higher by 1.08% at $95.07 on the last check Thursday.
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