Monday.com Gets Price Target Hikes From Analysts Following Upbeat Earnings

Monday.com Ltd MNDY reported better-than-expected quarterly results.

Monday.com reported revenue growth of 50% Y/Y to $162.3 million, beating the consensus of $155.3 million. Non-GAAP EPS of 14 cents beat the consensus loss of 28 cents.

Monday.com raised FY23 revenue guidance to $702 million-$706 million (+35% to +36% Y/Y, consensus: $690.74 million) from $688 million-$693 million expected earlier.

Monday.com shares jumped 16.6% to close at $152.80 on Monday.

These analysts made changes to their price targets on Monday.com after the company reported quarterly results.

• Jefferies raised the price target on Monday.com from $140 to $150. Jefferies analyst Brent Thill maintained a Hold rating.
• Oppenheimer boosted Monday.com price target from $160 to $170. Oppenheimer analyst George Iwanyc maintained an Outperform rating on the stock.
• Goldman Sachs increased Monday.com price target from $210 to $240. Goldman Sachs analyst Kash Rangan maintained a Buy rating on the stock.

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