On September 9, Monday.com Ltd. fell 8.03% in regular trading, trading at $83.735 per share with turnover of $102 million. The stock continued to face selling pressure following its Q2 earnings report, as below-consensus Q3 revenue guidance and an analyst downgrade dampened sentiment.

While Monday.com Ltd. posted strong Q2 results — adjusted EPS of $1.48 versus the $1.11 estimate and revenue of $364.6 million versus the $355.5 million consensus — its Q3 revenue guidance of $368 million to $370 million fell short of the $372.8 million analyst expectation. Full-year revenue guidance was maintained at $1.466 billion to $1.474 billion, roughly in line with estimates.

Following the report, Cantor Fitzgerald downgraded the stock from Overweight to Neutral and slashed its price target from $112 to $90, while UBS maintained its Neutral rating. The company's previously announced restructuring plan to cut approximately 20% of its workforce, expected to generate $45 million to $55 million in charges, continues to weigh on near-term profitability expectations.

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