---
title: "Monday.com Beats On Q2, Loses Some Analyst Love As Growth Slows"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295567250.md"
description: "Monday.com (MNDY) shares dipped after Q2 results beat estimates, with revenue up 22% to $364.6 million. However, growth decelerated and net new ARR contracted, prompting Cantor Fitzgerald to downgrade the stock to Neutral with a $90 price target. Conversely, DA Davidson and BTIG maintained Buy ratings, citing AI momentum despite cautious full-year guidance reflecting restructuring impacts."
datetime: "2026-08-11T17:58:40.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295567250.md)
  - [en](https://longbridge.com/en/news/295567250.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295567250.md)
---

# Monday.com Beats On Q2, Loses Some Analyst Love As Growth Slows

Shares of **Monday.com Ltd (NASDAQ:MNDY)** edged lower in early trading on Tuesday, after the company reported its second-quarter results.

Here are the key analyst takeaways:

-   Cantor Fitzgerald analyst Thomas Blakey downgraded the rating from Overweight to Neutral, while cutting the price target from $112 to $90.
-   DA Davidson analyst Lucky Schreiner reaffirmed a Buy rating and price target of $100.
-   BTIG analyst Allan Verkhovski reiterated a Buy rating and price target of $105.

Check out other analyst stock ratings.

**Cantor Fitzgerald:** Monday.com’s revenue grew 22% year-on-year to $364.6 million and non-GAAP operating income came in at $61.1 million, with both figures topping estimates of $355.6 million and $46.6 million, respectively, Blakey said in the downgrade note. He added, however, that total NNARR (net new annual recurring revenue) fell both sequentially and year-on-year.

The newer-product NNARR softened during the second quarter as the company "simultaneously pivots its products and GTM (go-to-market) toward AI and enterprise," the analyst wrote.

Management indicated around $100 million in of annualized cost savings from restructuring, below the estimate of $160 million, with most of the savings expected to be "reinvested into talent, product and AI," he further stated.

**DA Davidson:** Monday.Com reported a "larger than typical" beat, Schreiner said. The company witnessed momentum in its AI products, which drove 17% of net new ARR, he added.

The analyst noted the following:

-   Revenue growth decelerated sequentially by around 200 basis points (bps) to 22% year-on-year.
-   Net new revenue contracted to $13 million, from $17 million in the year-ago quarter.
-   Although ARR from new products improved to 11.6%, from 11.3% previously, this implies a year-on-year decline.

Management’s full-year revenue guidance was reiterated at $1.47 billion at the midpoint, which implies around 19% growth, "with management taking a cautious approach towards potential headwinds near term from the restructuring," he further wrote.

**BTIG:** Monday.com’s revenue growth decelerated to 21.9% year-on-year, from 24.5% in the first quarter, Verkhovski said.

While management was unlikely to fully reflect the second-quarter beat in their full-year guidance, "the more notable takeaway" is that they indicated a currency tailwind of 100-110 bps, the analyst stated. This implies a constant currency revenue growth guidance of around 18.3% at the midpoint, he added.

"This suggests MNDY exits FY26 growing 15.3% (13.8% CC), and as a result, we are lowering our FY27 total revenue growth estimate from 14.5% to 13%," the analyst further wrote.

**MNDY Price Action:** Shares declined by 1.85% to $86.98 at the time of publication on Tuesday.

**Read Also: Monday.com Flags Short-Term Disruption From 20% Workforce Cut**

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