Monday.com Ltd. (MNDY) Gains Analyst Confidence with Strong ARR, Market Expansion, and AI Positioning

Monday.com Ltd (NASDAQ:MNDY) is one of the best beaten down stocks to invest in according to analysts. On December 17, BTIG initiated coverage of Monday.com Ltd (NASDAQ:MNDY) with a Buy rating and a $210 price target.

The research firm remains confident about the company’s growth trajectory following an impressive third quarter, during which revenue rose 26%. In addition, the research has highlighted significant opportunities for total addressable market expansion in the CRM and Service segments. Analyst Allan Verkhovski has already downplayed market concerns around AI-driven Google SEO, insisting they are overblown.

According to Verkhovski, Monday.com’s new products are scaling at an impressive rate, as depicted by robust annual recurring revenue that has already reached $133 million. The company’s go-to-market strategy, with enterprise product bundles and solution selling, is also positioning it for growth, with increasing multi-product adoption and retention rates. BTIG expects the company to achieve its revenue target of $1.8 billion in 2027, representing a 21% compound annual growth rate over the past 2 years.

Tigress Financial Partners is also bullish on Monday.com’s prospects, having reiterated a Buy rating on the stock on December 10 and a $310 price target. According to the research firm, the company is well-positioned as an AI-native Work OS leader.

Monday.com Ltd (NASDAQ:MNDY) builds cloud-based work operating systems (Work OS) and applications that help teams manage projects, automate workflows, and collaborate visually using customizable boards, views (such as Kanban and Gantt), and tools for tasks, CRM, development, and HR.

While we acknowledge the potential of MNDY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.