Monday.com falls after BofA downgrades to 'neutral' rating

monday.com

21/08/2025 17:14

** U.S.-listed shares of Israeli software co Monday.com MNDY.O shares down ~1.3% to $171.2

** BofA downgrades the co to "neutral" from "buy" rating, citing AI search disruption

** "According to Similarweb, search engine optimization (SEO)-driven website visits to Monday.com sank by an average of 23.5% year-over-year in 2Q25," says BofA

** Brokerage says mounting headwinds are likely driven by Google's expanding integration of AI Overviews into search results

** Brokerage cuts PT to $205 from $240, which still represents a 18.2% upside to stock's last close

** 22 of 24 brokerages rate the stock "buy" or higher, two "hold"; their median PT is $272.50 -  data compiled by LSEG

** Including session's moves, stock down ~27% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))