These Analysts Boost Their Forecasts On Monday.com Following Upbeat Earnings

Monday.com MNDY reported better-than-expected third-quarter results and issued strong guidance.

Monday.com posted adjusted earnings of 64 cents per share, beating market estimates of 20 cents per share. The company’s sales came in at $189.19 million versus expectations of $182.36 million.

The company said it sees fourth-quarter revenue of $196 million to $198 million and FY23 revenue of $723 million to $725 million.

Monday.com gained 5.8% to trade at $163.81 on Tuesday.

These analysts made changes to their price targets on Monday.com following earnings announcement.

• Keybanc raised the price target on Monday.com from $180 to $185. Keybanc analyst Jason Celino maintained an Overweight rating.
• UBS increased the price target on Monday.com from $175 to $185. UBS analyst Taylor McGinnis maintained a Neutral rating.

Also Check This Out: Oracle, Qualcomm And 2 Other Stocks Insiders Are Selling