monday.com Ltd. can outperform guidance by 'healthy margin' - DA Davidson
DA Davidson upgraded shares of monday.com Ltd. (MNDY (NASDAQ:MNDY)) to Buy from Neutral, with a price target of $170 per share ahead of the company's earnings release on Monday , November 13.
The firm said that following extensive research, it sees the company posting a positive report.
Analysts explained: «Based on our analysis of 3rd party data, talking to managements, and recent reads from relatively similar software reports, we believe the company can outperform guidance by a healthy margin.»
In addition, they view the recent share price dislocation as «largely not fundamental-based, reflecting Monday's home country.» MNDY shares are down more than 9% in the last three months. However, the stock has rallied 8.6% so far on Tuesday.
DA Davidson analysts said they «see a good buying opportunity for a high-quality asset.»
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