TD Cowen Downgrades monday.com to Hold as Shares Fall 5%
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monday.com shares fell 5% in early trading Tuesday after TD Cowen cut its rating to Hold from Buy, saying paid search and SEO face greater disruption from AI ahead of the software company's third-quarter results. TD Cowen said those channels had historically been central to monday.com's go-to-market strategy. The firm also cited higher disintermediation risk among small and midsize businesses. TD Cowen lowered its fiscal 2027 growth outlook to 14% from about 15.5%, below the roughly 15% consensus estimate. For the third quarter, the firm expects growth near 19% and revenue about 2% above consensus.
Source: TokenPost
