Shares of Monday.com (NASDAQ: MNDY) slipped 37.3% in 2025 and are down 70% from all-time highs, according to data from S&P Global Market Intelligence. A software provider that helps teams manage tasks, Monday.com has suffered along with other software stocks due to a narrative of disruption over artificial intelligence (AI). However, at the same time, the company's revenue continues to grow at an impressive double-digit rate.
Here's why Monday.com stock fell last year, and whether it is a buy for 2026.
Software stocks across the board suffered in 2025, mainly due to investor fears about AI. New AI tools, such as Claude Code, allow people to communicate with a chatbot to build software tools from scratch, even if they have minimal coding experience. The bear thesis for existing software providers is that companies will begin to build their own software with these AI tools, leading to a decrease in demand for third-party platforms such as Monday.com.
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