Citigroup Maintains Buy on monday.com, PT Down to $326 from $381

Citigroup Maintains Buy on monday.com, PT Down to $326 from $381

Citigroup has maintained its "Buy" rating on Monday.com (NASDAQ: MNDY), but has revised its price target downward from $381 to $326. This adjustment reflects recent market conditions and the company's performance.

In its latest earnings report, Monday.com exceeded market expectations, reporting a net revenue increase of 30.2% year-over-year, amounting to $282.25 million for the quarter [1]. The company's adjusted earnings per share (EPS) of $1.10 surpassed analysts' consensus estimates by $0.40. Additionally, the company's quarterly revenue was up 30.2% compared to the same quarter last year [1].

Citigroup's revised price target aligns with the current market consensus, which stands at a "Moderate Buy" rating with an average price target of $348.09 [1]. The stock has seen a mix of analyst ratings, with 21 analysts issuing a "buy" rating, three analysts rating the stock as a "hold," and one analyst rating it as a "strong-buy" [1].

Monday.com's second quarter results highlighted robust revenue growth and non-GAAP profitability that exceeded Wall Street expectations. The company's revenue grew 26.6% year-on-year to $299 million, and its non-GAAP profit of $1.09 per share was 27% above analysts' consensus estimates [2]. Despite these headline beats, the market responded negatively, reflecting concerns around operating margin compression and uncertainty in the company's customer acquisition channels.

Citigroup's revised price target reflects a cautious stance on Monday.com's future performance, particularly in light of the company's recent market pullback and concerns about customer acquisition channels. However, the company's strong enterprise momentum and continued adoption of AI-powered platform features remain positive indicators for long-term growth.

References:
[1] https://www.marketbeat.com/instant-alerts/mondaycom-nasdaqmndy-stock-rating-upgraded-by-baird-r-w-2025-08-07/
[2] https://finance.yahoo.com/news/mndy-q2-deep-dive-ai-053144046.html