monday.com Ltd. (MNDY) PT Lowered to $381 at Citi
Citi analyst Steven Enders lowered the price target on monday.com Ltd. (NASDAQ: MNDY) to $381.00 (from $410.00) while maintaining a Buy rating.
The analyst comments "MNDY reported a solid Q1 with healthy core customer metrics including stable NRR and improving customer net adds, esp among WorkOS products CRM/Dev/Service. While mgmt noted no significant macro impacts thru April, guidance was conservatively ~maintained ex-fx (implied cut cc; fx from 1-2pt rev tailwind to <1pt) with Q2 guided below on both rev and EBIT. We are encouraged by steady execution and macro resilience, viewing the cc guide down as conservatism, improving the Q2 setup. Reiterate Buy seeing an emerging platform story with strong execution and best-in-class Ro40 yet lowering our TP to $381 (from $410) on 13x CY26 EV/rev on macro conservatism and an updated valuation regression."