Alright, so Monday.com...

I'm not going to argue that the moat is particularly wide here, it's a collaboration and productivity software that isn't considered mission critical. There are many competitors, and AI can fairly quickly build custom software that functions similarly. But I would argue that the complexity of building a competing product was never really a problem even before the advent of AI coding tools. Monday has simply executed extremely well and grown surprisingly fast. Enterprise SAAS isn't as easy of a game to play as many think it is, and both their sales team and the product itself made a compelling enough case to capture a significant chunk of the market. The recent sell off happened because FY26 revenue guidance decelerated to 20ish %. This may indeed signal that the hypergrowth phase is dwindling, but the valuation is extremely compelling now. Because they have tons of cash on the balance sheet, the EV/fwd sales is now around 1.7, all while having 90% gross margins. On a free cash flow basis, they are trading around 18x EV/trailing FCF ex SBC. The key factor becomes either durability of revenue growth or capacity to expand margins. Currently, a lot of pessimism is baked into a price of 18x for a company growing 20% on the top line and not optimized for profitability yet. Even a further fall to an average of 5-10% revenue growth per year after FY26, combined with a few percentage points of operating leverage makes the numbers look really cheap really quick. Any takers here? Also, anyone who's used the software professionally and has any opinions on it vs competition?