KeyBanc reiterates monday.com stock rating, sets $1.8B revenue target

Investing.com - KeyBanc maintained its Overweight rating and $330.00 price target on monday.com Ltd. (NASDAQ:MNDY), currently trading at $188.39, following the company’s investor day at its Elevate Conference in New York. According to InvestingPro data, analyst targets for the stock range from $205 to $450, with the company maintaining impressive gross profit margins of 89.4%.

The firm highlighted monday.com’s newly announced 2027 revenue target of $1.8 billion, which management described as a base case scenario. This target falls below previous analyst estimates for the company’s future performance. The company, currently valued at $9.7 billion, has shown strong revenue growth with a forecast of 26% for FY2025, though its stock has declined 26.8% over the past six months. InvestingPro subscribers have access to 12 additional key insights about MNDY’s growth potential and financial health.

KeyBanc noted it would be lowering its revenue estimates for monday.com for the next couple of years in response to the company’s guidance.

The $1.8 billion target specifically excludes potential revenue contributions from artificial intelligence products such as Vibe and Agents, which are either launching soon or have been recently introduced.

According to KeyBanc, these AI products are "too early to build into revenue targets" despite being part of monday.com’s product development pipeline.

In other recent news, monday.com Ltd. has been the subject of several analyst assessments and strategic shifts. The company reported mixed second-quarter results, with revenue growth of 27%, which exceeded expectations by 1.8% but fell short of the average beat of 2.5%. Analysts from TD Cowen responded by lowering their price target to $290 while maintaining a Buy rating. Similarly, Piper Sandler reduced its price target to $300, maintaining an Overweight rating, and suggested that the recent sell-off in shares was excessive.

Morgan Stanley upgraded monday.com to Overweight from Equalweight, despite reducing its price target to $260, citing the company’s strategic shift toward a multi-product approach and a sales-led growth model. KeyBanc reiterated its Overweight rating with a $330 price target, maintaining a positive outlook. Needham also reiterated a Buy rating with a $250 price target, following discussions with the company’s investor relations team about diminishing reliance on Google for performance marketing. These developments reflect ongoing adjustments in monday.com’s market strategies and financial outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.