Monday.Com Analyst Remains Bullish Post NYC Conference, Thanks To Product Strategy Enhancements

Needham analyst Scott Berg reiterated a Buy on Monday.Com Ltd MNDY with a $230 price target.
He attended Monday.com's Elevate customer conference in NYC yesterday.
His key takeaway was on significant product strategy enhancements that are almost exclusively focused on driving the scale and functionality required within larger deployments.
Especially for larger enterprise segment customers, he believes they are starting to standardize and rationalize their Collaborative Work Management (CWM) infrastructure.
He liked this focus as he believes capturing the current growth phase in the CWM segment is essential.
Customer conversations were highly complimentary of the company's user interface, ease of use, and ability to scale outside traditional project management use cases.
He feels this ability will be necessary to turn CWM from a decent-sized TAM into a significantly large one.
Price Action: MNDY shares traded higher by 0.28% at $98.18 on the last check Tuesday.

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