New York, Feb 10, 2026, 05:23 EST — Premarket.
- monday.com plunged 20.8% to $77.63 by Monday’s close; premarket action early this day showed little movement.
- The company is projecting 2026 revenue between $1.452 billion and $1.462 billion, targeting a non-GAAP operating margin in the 11% to 12% range.
- Eyes are on the self-serve channel, FX headwinds, and Friday’s U.S. CPI print.
Shares of monday.com Ltd held steady in early premarket action Tuesday, following a steep 21% drop the session before. The Nasdaq-listed work-management software firm hovered close to $78.
The decline stands out, since monday.com has turned into something of a bellwether for subscription software appetite. Investors haven’t hesitated; signs of softer growth get hit fast. The company’s updated guidance comes just as sentiment has soured across the SaaS space — that’s subscription software running in the cloud.
CFO Eliran Glazer told analysts on the earnings call that the company is “no longer discussing our previously provided 2027 targets.” Executives also flagged “choppiness” in the “no-touch” channel, referring to the digital, self-serve funnel for landing smaller customers—those acquired without a salesperson. 1
The stock dropped to about $73 at its session low on Monday, then finished at $77.63, historical pricing data show. 2
monday.com’s Feb. 9 filing showed fourth-quarter revenue up 25% to $333.9 million, with non-GAAP diluted EPS landing at $1.04. Looking ahead to 2026, the company is aiming for revenue between $1.452 billion and $1.462 billion and non-GAAP operating income of $165 million to $175 million, putting its projected margin in the 11% to 12% range—non-GAAP, so that’s before things like share-based compensation. Customers generating more than $50,000 in ARR now account for 41% of total ARR. Buybacks hit $135 million in the fourth quarter, leaving $735 million still authorized. 3
The long-term view gave investors pause, too. At its most recent investor day, monday.com set a $1.8 billion revenue target for 2027. Now, with AI changing how customers buy software, Glazer says those long-term goals are on hold until the company has “more certainty” about the landscape. 4
Wall Street’s mood seemed to dominate the response, not so much the numbers themselves. “The market in software is unforgiving right now,” wrote William Blair’s Arjun Bhatia, after monday.com’s projections for 2026 revenue and operating income fell short of consensus. 5
monday.com is up against rivals like Asana, Smartsheet, and Atlassian in the project and work-management space, while analysts say hiccups in search-based customer acquisition are weighing on its self-serve operations. 6
Here’s the risk: paid search hasn’t picked up, and if smaller customers keep leaving at this pace, growth could decelerate even more. The company is still pouring money into product and sales. Margins? FX volatility is still in play. Near-term pressure has already been flagged.
On Tuesday, all eyes will be on the stock to see if it finds its footing when markets open at 9:30 a.m. EST, following last session’s post-earnings shakeup. Looking ahead, U.S. CPI figures dropping Feb. 13 could jolt rate bets—key for sentiment around high-growth software names. 7
