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Investing.com - Needham maintained its Buy rating on monday.com Ltd. (NASDAQ:MNDY) stock and kept its price target at $400.00 in a research note issued on Wednesday. The company, which generated over $1 billion in revenue last year with impressive 89.5% gross margins, has caught analysts’ attention with 14 experts recently revising earnings estimates upward according to InvestingPro data.
The firm’s analysis followed a conversation with a monday.com partner who provided insights on the company’s recently released Service offering and its artificial intelligence implementation. The partner, who has worked with monday.com for three years, expressed optimism about the company’s Customer Work Management (CWM) product, particularly with the upcoming DB 3.0 release. This optimism aligns with the company’s strong financial performance, showing 32.3% year-over-year revenue growth.
The research note highlighted positive feedback regarding monday.com’s Customer Relationship Management (CRM) and Service offerings, while noting that the Dev product faces challenges in a competitive market environment.
Needham reported that monday.com’s AI Building Blocks have been well-received by customers, though some users appear to be limiting their usage to free credit allocations, which could potentially cap AI monetization opportunities for the company.
The firm also noted that monday.com may be developing a campaign builder with contact segmentation capabilities as its next Marketing product addition, aligning with announcements made at the company’s previous Elevate conference.
In other recent news, monday.com Ltd. has introduced three new AI capabilities designed to enhance productivity and streamline workflow creation. These features include monday magic, which generates workflows from text prompts, monday vibe, a no-code platform for building custom applications, and monday sidekick, a digital assistant that suggests actions based on user context. Piper Sandler has reiterated its Overweight rating on monday.com, maintaining a price target of $325.00, highlighting the company’s potential for sustained revenue growth and strong free cash flow margins. Additionally, DA Davidson has raised its price target for monday.com to $325.00 and maintained a Buy rating, citing the company’s robust adoption of its multi-product platform and a positive outlook.
monday.com has also scheduled its annual general meeting for July 31, 2025, in Tel Aviv, where shareholders will vote on various proposals. The company has appointed Harris Beber, formerly of Google (NASDAQ:GOOGL) Workspace, as its new Chief Marketing Officer, effective July 3, 2025. Beber’s experience includes leading AI-focused marketing efforts and significantly growing user bases and revenue at previous companies. DA Davidson noted that the recent appointment of a new Chief Revenue Officer aligns with monday.com’s growth strategy, indicating a focus on efficient expansion.
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