Baird Sees Strong AI Potential in monday.com (MNDY), Raises PT to $310

monday.com Ltd. (NASDAQ:MNDY) is one of the Hot AI Stocks on Wall Street’s Radar. On August 7, Baird analyst Rob Oliver upgraded the stock from Neutral to Outperform with a price target of $310.00 (from $280.00). The rating change is due to several factors including its strong position in collaborative work management software-aligning with the rise of generative artificial intelligence.

“We view workflow as an intelligence layer for companies to unlock GenAI and Agentic value. Checks via customer conversations, industry events, and covered/private companies point to MNDY as being well positioned in workflow, with an opportunity to exploit this leadership position to deliver broader value.”

– Baird analysts Rob Oliver and Patrick Schulz, in a Wednesday investor note.

Baird Sees Strong AI Potential in monday.com (MNDY), Raises PT to $310

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The firm expects another strong quarter for the Israel-based company.

“As the SaaS space evolves with the evolution of AI, our medium/long-term investment decisions are increasingly driven by the sustainability of platform value. We are upgrading MNDY to Outperform as we see the company leveraging its early CWM lead to execute on this opportunity. Unlike competitors, MNDY has ‘productized’ its platform in way that delivers value around use-cases and buying centers. We encounter high investor interest among potential holders. We expect solid Q2 results and like the catalyst path into the September user conference and investor day.”

monday.com Ltd. (NASDAQ:MNDY) develops software applications globally, offering a cloud-based Work OS for creating work management tools.

While we acknowledge the risk and potential of MNDY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MNDY and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.