Added to YB: 2026-05-13
Pitch date: 2026-05-11
MNDY [neutral]
monday.com Ltd.
Author Info
Company Info
monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally.
Market Cap
$3.9B
Pitch Price
N/A
Price Target
175.00 (+143%)
Dividend
N/A
EV/EBITDA
52.60
P/E
33.58
EV/Sales
2.21
Sector
Software
Category
growth
Mnday.com (MNDY) — Q1 2026 Results
MNDY (earnings): Q1 beat w/ 24% rev growth, record 14% op margin (16% constant-currency ex-190bps FX drag), 29% FCF margin. AI credits = 10% net new ARR via seats-plus-credits model—first real monetization. $553M buyback retired 10% float at $66 (~1.0x EV/fwd rev). NDR held 110% despite SMB churn. Raised FY26 op margin guide to ~13% from 11-12%. Key risk: AI credit adoption velocity—needs to sustain 10%+ & drive NDR to 113-115% by Q3'27 or plateaus <8% confirming enterprise pushback on usage pricing. At 1.9x EV/rev & ~6.6x EV/FCF, priced for terminal decline not AI platform. Bull: NDR inflects, re-rates to 3.5-4.5x = $140-175 (55-75% IRR). Bear: credits stall, NDR falls to 107-108%, multiple compresses to 1.3-1.5x = $50-60. Watch Q2 AI credit % of net new ARR.
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