monday.com Price Target Cut to $170, Overweight Rating Maintained
monday.com Ltd.’s price target was lowered by Piper Sandler to $170 from $250, with the firm retaining an Overweight rating, citing seat compression and valuation ceilings across its platforms group. The analyst noted stable Q3 revenue of $317 million, up 26% year-over-year, with over 60,000 AI-driven apps built since July.
1. Analyst Revises Price Target
Piper Sandler reduced monday.com’s price target to $170 from $250 while keeping an Overweight rating, attributing the adjustment to broader seat compression and valuation ceiling concerns within the platforms and applications group. The firm did not issue a directional forecast for the upcoming Q4 results, indicating the change reflects sector trends rather than company-specific issues.
2. Operational Performance and AI Adoption
In fiscal Q3, monday.com reported $317 million in revenue, marking a 26% increase year-over-year. The company highlighted rapid adoption of its AI-driven offerings, with customers creating over 60,000 apps using Monday Vibe and Agent Factory since July, underscoring growing engagement with its workflow automation tools.