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Needham analyst Scott Berg reiterated a Buy on Monday.Com Ltd (NASDAQ: MNDY) with a $230 price target.
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He attended Monday.com’s Elevate customer conference in NYC yesterday.
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His key takeaway was on significant product strategy enhancements that are almost exclusively focused on driving the scale and functionality required within larger deployments.
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Especially for larger enterprise segment customers, he believes they are starting to standardize and rationalize their Collaborative Work Management (CWM) infrastructure.
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He liked this focus as he believes capturing the current growth phase in the CWM segment is essential.
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Customer conversations were highly complimentary of the company’s user interface, ease of use, and ability to scale outside traditional project management use cases.
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He feels this ability will be necessary to turn CWM from a decent-sized TAM into a significantly large one.
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Price Action: MNDY shares traded higher by 0.28% at $98.18 on the last check Tuesday.
Latest Ratings for MNDY
Date |
Firm |
Action |
From |
To |
---|---|---|---|---|
Feb 2022 |
DA Davidson |
Upgrades |
Neutral |
Buy |
Feb 2022 |
Needham |
Maintains |
Buy |
|
Feb 2022 |
Piper Sandler |
Maintains |
Overweight |
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