monday.com beats Q2 revenue estimates with strong AI growth and cost cuts, targets $153 price.

monday.com reported a strong Q2 FY26 with revenue beating estimates by 22% year-over-year, driven by growth in large enterprise customers and AI-powered platform expansion. The company doubled its AI annual recurring revenue sequentially, validating its new pricing model. A 20% workforce reduction is expected to save $100 million annually, supporting margin expansion in FY27 despite potential near-term growth slowdowns. The stock is rated Buy with a $153 price target based on these positive developments.