monday.com (MNDY) Stock Forecast & Price Target

Monday.com has demonstrated notable revenue growth, achieving $333.9 million in total revenue, which represents a 1.5% beat against guidance, signaling solid operational performance. The company's enterprise customer segment has also shown remarkable strength, with a 45.5% increase in customers generating over $100K in annual recurring revenue (ARR), and total enterprise customer additions reaching a three-year high. Additionally, the continued growth of new products, which now account for 10.7% of total ARR, coupled with healthy seat growth and multi-product adoption rates, reinforces a positive outlook for the company's future financial performance.

The analysis indicates a negative outlook for Monday.com, primarily due to a significant decline in the non-GAAP operating margin, which fell 240 basis points year-over-year to 12.6%. Additionally, the company's fiscal 2026 revenue guidance of $1.457 billion, reflecting only 18-19% growth, fell short of consensus estimates and marks a downward adjustment from previous forecasts. Furthermore, the decline in the self-serve motion's contribution to gross added annual recurring revenue (ARR) and a reduction in the net dollar retention rate to 110% highlight ongoing challenges in customer retention and expansion.