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monday.com (MNDY) Has The Market Asking A New Question

Simply Wall St · 2d ago

Harmony launch puts monday.com stock back in focus

monday.com (MNDY) has rolled out Harmony, an AI driven platform built on compact, task specific language models and voice technology that aims to automate sales calls and customer engagement workflows.

Harmony has arrived at a time when monday.com’s share price has been swinging sharply, with a 30 day share price return of 22.19% and a 1 day move of 1.15%. However, the year to date share price return is still down 33.15% and the 1 year total shareholder return has declined 53.29%. This suggests that recent momentum is improving but is set against a weak longer term record that investors will weigh against the potential impact of the new AI platform.

Scan for other AI driven software stocks showing fresh momentum and stronger recent returns than monday.com with the curated 37 AI small caps.

monday.com now trades at a discount both to analyst targets and to some estimates of fair value, even after Harmony’s bounce. Is the market rightly cautious or mispricing the risk around this new AI push?

Most Popular Narrative: 11.9% Undervalued

On the most followed view, monday.com is worth $108.87 per share, compared with the latest close at $95.87. This puts Harmony into a story where valuation depends heavily on how AI usage and enterprise demand play out over time.

Hybrid seat plus AI consumption pricing, with early signs of customers topping up AI credits and AI ARR contributing a growing share of net new ARR, introduces a usage based layer that can decouple growth from seat counts and support both revenue expansion and margin improvement.

See why 78 investors see monday.com as 12% undervalued.

Result: Fair Value of $108.87 (UNDERVALUED)

Still, the narrative comes under pressure if monday.com’s softer guidance and easing net dollar retention persist, signalling slower expansion from existing customers just as AI spend ramps up.

Find out about the key risks to this monday.com narrative.

Next Steps

Mixed messages in the monday.com story so far. Act while the details are fresh and consider both the upside and the red flags in the 3 key rewards and 1 important warning sign.

Looking for more monday.com investment ideas?

If Harmony has you rethinking monday.com and the wider AI opportunity, do not stop with a single ticker. Broaden your watchlist now and give yourself more options before the next move catches you off guard.