Brokerages start coverage of Monday.Com on growth prospects
06/07/2021 13:12
** At least 7 brokerages start coverage of Israel-based
software publisher's shares MNDY.O nearly a month after their
Nasdaq debut
** 3 brokerages including Goldman Sachs start coverage with
"buy", 2 "outperform", while Piper Sandler and JPMorgan have
"overweight" and "neutral" ratings respectively
** Despite rising investor optimism since June IPO and a
premium valuation that may limit further multiple expansion,
brokerage sees tremendous growth opportunity ahead for company -
Piper Sandler
** Up to Friday's close, company's shares up ~48% from its
IPO price of $155/shr on June 10
(Reporting by Amal S in Bengaluru)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6749 3677))