MNDY: 1Q26 Earnings Recap

研报英文原文证据摘录

MNDY: 1Q26 Earnings Recap

Equity Research

Price Target Change — May 11, 2026

U.S. Software

Monday.com, Inc.

1Q26 Earnings Recap Overweight

Price Target: $130.00

Notable Changes

Our Call $ (Dec) Current Prior % Chg

MNDY posted a strong 1Q beat, supported by upmkt momentum and improving AI EPS 2026 4.48 4.00 12.0%

contribution. Further positive datapoints will be key to bringing investors back, but believe EPS 2027 5.12 4.81 6.4%

constructive performance in 1Q should support confidence in MNDY’s FY26 outlook. EBIT (MM) 2026 188.6 170.1 10.9%

EBIT (MM) 2027 248.0 242.8 2.1%

Encouraging 1Q results. After taking a conservative approach to its initial FY26 guide

in 4Q, MNDY posted a strong beat in 1Q that was above investor expectations. Non- Ticker MNDY

GAAP operating margin came in above, despite meaningful FX headwinds, as did the 2Q Upside/(Downside) to Target 70.1%

outlook. We are encouraged by the results and steps MNDY is taking to execute against

Price (05/11/2026) $76.41its strategic initiatives and its progress in adding AI upside to the business model.

52 Week Range $57.50 - 316.98

AI progress. MNDY noted solid traction in its AI offerings, with 10% of 1Q NNARR being Market Cap (MM) $4,044

driven by AI (vibe, AI blocks, sidekick). MNDY also noted that the internal productivity Enterprise Value (MM) $2,456

gains it's seeing from AI are proving that it can grow revenues without having to grow Average Daily Value (MM) $175

headcount in lockstep. Additionally, MNDY is planning broader rollout of its seats-plus- Dividend Yield 0.0%

credits consumption pricing model.

• MNDY agreed to acquire OneAI (link) in efforts to bring native voice capabilities into $ (Dec) Q1 Q2 Q3 Q4 FY

its AI Work Platform EPS

2026E 1.15 A 1.12 E 1.07 E 1.14 E 4.48 E