Needham Reiterates Buy on monday.com (MNDY), Sets $250 Price Targe

monday.com Ltd. (NASDAQ:MNDY) is one of the AI Stocks Analysts Are Watching Closely. On August 18, Needham analyst Scott Berg reiterated a Buy rating and $250.00 price target on the stock.

The firm revealed how its post 3Q investor call with the company’s VP of IR Byron Stephen and IR Manager Paige Newman helped gain clarity on Monday’s performance marketing shortfall. It also helped explain how their reliance on Google should further reduce moving forward.

The firm believes that Google pricing change will result in a small but minor near-term impact. This may force the company to reduce its mid-term growth target from 30% to 25% at its September investor day.

However, the company’s overall dependence on Google has decreased and now represents less than 30% of net customer additions. Moreover, self-service sales have also decreased to 40% of total sales. This reveals how the company is shifting toward larger, higher-quality deals in upmarket segments.Needham Reiterates Buy on monday.com (MNDY), Sets $250 Price Targe

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“We came away believing this Google pricing change will have a small, but minor near-term impact which we expect will force MNDY to reduce its 30% mid-term growth target down to 25% at its Sept. investor day. Google now represents