KeyBanc Launches Coverage on Monday.com, Smartsheet, Asana in Work Management Software Category – Asana (NYSE:ASAN), Monday.Com (NASDAQ:MNDY), Smartsheet (NYSE:SMAR)

  • KeyBanc analyst Jason Celino kicked off coverage of Monday.com Ltd MNDY with an overweight index and a Price target of $135.
  • He believes Monday.com is best positioned to sustain growth of more than 30% for at least the next two years among its labor management peers.
  • He believes the company’s modular Work OS platform strategy provides business and competitive differentiation.
  • The price target reflected a premium in line with other SaaS growing by more than 30%.
  • Celino initiated the coverage of Smartsheet Inc SMAR with an overweight index and a $46 price target.
  • He thinks Smartsheet is poised to become a top performer in the work management software category.
  • With one of the most apparent paths to profitability among its labor management peers, it has seen understated high growth + a history of improving margins.
  • Celino initiated the coverage of Asana, Inc. ASAN with a Sector weight rating.
  • CEO Dustin Moskovitz has potentially set Asana on an ambitious path to winning the work management software category.
  • With its disruptive platform strategy, company momentum, and multiple mentions of wall-to-wall customer deployments, he thinks Asana is doing well.
  • Despite the market pullback and valuation, he saw a risk-reward balance.
  • Price Action: Shares of MNDY traded up 1.08% at $95.07 when last checked on Thursday.
  • Photo via company

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