Jefferies Downgrades monday.com to Hold in Sector-Wide Review

Jefferies downgraded monday.com from Buy to Hold on February 23, 2026, moving the NASDAQ-listed work-management platform (ticker MNDY) into a more cautious category during a sector-wide re-evaluation of software stocks. The change was published by Jefferies, the investment bank and research provider, and was subsequently reported by multiple financial outlets and equity-news aggregators.

The downgrade replaces a prior Buy recommendation with Hold, a formal shift in analyst stance that Jefferies applied to monday.com on the same day it reevaluated peers across software coverage. That action placed monday.com alongside other software companies receiving fresh scrutiny in Jefferies’ review, signaling a recalibration of expectations from one corner of Wall Street for companies in the enterprise software space.

News of the Feb 23 action circulated widely; by February 26, 2026, reports noting Jefferies’ move had reached equity-news aggregators that track analyst adjustments for institutional and retail investors. For monday.com employees and managers, the public downgrade from an established research house adds a new layer of investor focus on the company’s performance and guidance, given Jefferies’ role as both an investment bank and a provider of equity research.

Jefferies’ sector-wide re-evaluation on Feb 23 did not occur in isolation: the firm explicitly reviewed software stocks as a group before adjusting ratings, and monday.com was one of the companies affected. The Hold rating replaces the bank’s previous Buy recommendation and changes the language analysts and investor relations will use when communicating about the stock, particularly in discussions with shareholders and prospective institutional buyers.

The immediate consequence is heightened attention on monday.com (MNDY) from market participants tracking analyst coverage changes. With Jefferies’ Feb 23 downgrade now on the public record and reported across financial outlets, monday.com’s leadership and investor relations team will likely need to address the implications of the Hold designation during upcoming earnings updates and investor engagements.