KeyBanc Launches Coverage on Monday.com, Smartsheet, Asana in Work Management Software Category

  • KeyBanc analyst Jason Celino kicked off coverage of Monday.com Ltd (NASDAQ: MNDY) with a rating of overweight and 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 (NYSE: SMAR) with a rating of overweight and $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. (NYSE: 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

Latest reviews for MNDY

Date

Solidify

Stock

Of

To

February 2022

D.A. Davidson

Upgrades

Neutral

To buy

February 2022

Needham

Maintains

To buy

February 2022

Piper Sandler

Maintains

Overweight

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