Monday.Com Analyst Remains Bullish Post NYC Conference, Thanks To Product Strategy Enhancements

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

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