monday.com (NASDAQ:MNDY) Price Target Cut to $220.00

monday.com (NASDAQ:MNDY) had its price objective cut by equities researchers at Canaccord Genuity Group from $250.00 to $220.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 19.05% from the stock’s previous close.

A number of other research firms have also recently issued reports on MNDY. Citigroup cut monday.com from a “buy” rating to a “neutral” rating and decreased their target price for the company from $277.00 to $250.00 in a research note on Wednesday, April 10th. Wells Fargo & Company began coverage on monday.com in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $260.00 target price for the company. Bank of America began coverage on monday.com in a research note on Monday, February 26th. They issued a “buy” rating and a $280.00 target price for the company. JPMorgan Chase & Co. boosted their target price on monday.com from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Tigress Financial boosted their target price on monday.com from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $240.00.

monday.com Stock Up 1.6 %

Shares of monday.com stock opened at $184.79 on Monday. monday.com has a 12 month low of $108.35 and a 12 month high of $239.22. The business has a fifty day simple moving average of $214.29 and a 200 day simple moving average of $189.44. The stock has a market cap of $8.92 billion, a PE ratio of -2,639.48 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The business had revenue of $202.60 million during the quarter, compared to analysts’ expectations of $197.97 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. Analysts expect that monday.com will post -0.16 EPS for the current fiscal year.

Institutional Trading of monday.com

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Trail Advisors LLC grew its position in shares of monday.com by 264.1% in the first quarter. Summit Trail Advisors LLC now owns 55,048 shares of the company’s stock valued at $12,434,000 after purchasing an additional 39,929 shares during the last quarter. Raymond James & Associates grew its position in shares of monday.com by 131.5% in the first quarter. Raymond James & Associates now owns 28,995 shares of the company’s stock valued at $6,549,000 after purchasing an additional 16,470 shares during the last quarter. Norden Group LLC acquired a new position in shares of monday.com in the first quarter valued at approximately $840,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of monday.com by 18.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 56,500 shares of the company’s stock valued at $12,762,000 after purchasing an additional 8,636 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of monday.com by 4,419.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 60,104 shares of the company’s stock valued at $13,576,000 after purchasing an additional 58,774 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.