monday.com (MNDY) Stock Forecast & Price Target

Monday.Com is viewed positively because it is expected to deliver 3Q total revenue growth of 20%, about 3% above consensus, while roughly $12M of upside is expected to flow through to FY26 guidance, implying over 20% growth at the midpoint. The company’s platform momentum is supported by expanding enterprise opportunity, stronger AI adoption among larger customers, and new capabilities such as monday sidekick, monday vibe, monday agents, workflows, and Frontier, which could broaden monetization over time. Even with modest seat-growth deceleration and AI pricing still evolving, customers are not leaving, and the stock’s near Rule of 40 profile with high-teens non-GAAP operating margins and relatively low valuation multiples supports the constructive outlook.

Monday.Com is facing a structurally weaker top-of-funnel as AI-driven search and zero-click results disrupt the paid search and SEO channels that historically fueled its low-touch growth. Its pivot up-market and toward partners may protect larger accounts, but it raises CAC, lengthens sales cycles, and pressures near-term visibility while the down-market business still represents roughly 40% of ARR and net new 10+ user customers fell 28% Y/Y in 1H26. At the same time, AI competition is intensifying, and monday.com’s own AI pricing and product monetization remain immature, with AI still under 1.5% of ARR and customer feedback indicating higher-than-expected costs and softer expansion trends.