Needham repeated analyst Scott Berg Monday.Com Ltd MNDY with a Buy and a price target of $230. MNDY reported excellent Q4 22 results highlighted by another quarter of over 50% revenue growth and its first ever, Non-GAAP Operating Results.

Sales metrics remained positive but slowed again in Q/Q as the analyst had expected as the hiring macro slowed, leading to fewer additions to existing customers.

Sales for MNDY’s new CRM solution exceeded expectations and its release to existing customers this summer could be an additional ARPU growth vector not included in the current forecast.

The initial FY23 revenue guidance points to a crucial growth slowdown. Still, the analyst sees this first look as more of a conservative view based on the unknown macro image than anything specific to MNDY or the CWM space.

The initial guidance for an operating loss in FY23 looks conservative and the analyst said he would not be surprised if the company bridges the profitability gap in H2.

CreditSuisse Analyst Fred Lee maintained an outperformance and raised the price target to $170 from $140. MNDY delivered another solid quarter, demonstrating the underlying strength and customer acceptance of its platform approach.

The company’s execution and pace of innovation continues to impress, with Monday CRM gaining significant traction and the recently announced Monday DB, which aims to update the core platform infrastructure and drive enterprise adoption.

key bank Analyst Jason Celino maintained an overweight stance and increased the price target to $180 from $156. While corporate NRR is falling due to slower upscale market seat expansion, management’s commentary suggests top-of-funnel activity remains resilient.

Additionally, Monday.com plans to target its installed base of Sales CRM (and other work-OS products) in late H1, which the analyst saw as a catalyst.

Citigroup Analyst Steven Enders stuck to a buy, increasing the price target to $169 from $132.

Despite some concerns from Macro’s NDR, the analyst…