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Monday.com
’s stock plummeted more than 19% on Monday after the project management platform issued weak guidance as it grapples with rising concerns that artificial intelligence is disrupting the software business model.
The Israel-based company called for revenue between $338 million and $340 million in the current quarter, short of the $343 million expected by analysts polled by FactSet. For the full year, monday.com forecasted between $1.452 billion and $1.462 billion in revenue, versus a FactSet estimate of $1.48 billion.
Software stocks have sold off in recent weeks on rising AI disruption fears and worries that new agentic tools can replace them.
