Monday.Com Ltd rises after Q2 results, brokerages raise PTs

monday.com

18/08/2021 12:51

** Canaccord Genuity says Israeli work management company
Monday.Com Ltd  MNDY.O  matched lofty expectations in its first
quarterly report post-IPO
    ** Brokerage raises PT to $330 from $275, implying an upside
of ~8% to last close
    ** MNDY on Tuesday posted FY21 revenue above estimates after
reporting Q2 revenue beat  urn:newsml:reuters.com:*:nL4N2PO2YZ
    ** "MNDY checked all the key boxes we were looking for:
continued momentum up-market, gains in net revenue retention,
and continued product innovation" - brokerage
    ** Brokerage J.P. Morgan and Piper Sandler also raise PT to
$295 and $320, respectively
    ** "We see a next wave of productivity software emerging for
a hybrid work environment and believe Monday.Com is well
positioned to capitalize on this opportunity" - Piper Sandler 
    ** Company's shares up 0.9% in low volume premarket
    ** Avg rating of 10 analysts "buy"; median PT $337.50 -
Refinitiv data
    ** As of last close, stock up ~71% since its June IPO

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))