Monday.com Analysts Raise Their Forecasts After Upbeat Q2 Results
Portfolio Pulse from Lisa Levin
Monday.com Ltd (NASDAQ:MNDY) reported Q2 revenue growth of 42% Y/Y to $175.7 million, beating the consensus of $169.2 million. The company raised its 2023 revenue guidance to $713 million-$717 million. Following the earnings announcement, analysts from Keybanc, Jefferies, TD Cowen, and Needham revised their price targets for the company's shares.
August 15, 2023 | 12:48 pm
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Monday.com reported better-than-expected Q2 results and raised its 2023 revenue guidance, leading to a positive revision of price targets by several analysts.
Monday.com's strong Q2 performance and increased revenue guidance for 2023 have led to a positive outlook for the company. This is reflected in the revised price targets by analysts from Keybanc, Jefferies, TD Cowen, and Needham, which is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100