Loop Capital Cuts monday.com (NASDAQ:MNDY) Price Target to $375.00

monday.com (NASDAQ:MNDY) had its price target lowered by equities research analysts at Loop Capital from $385.00 to $375.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 29.07% from the stock’s previous close.

Several other analysts have also recently issued reports on MNDY. Wells Fargo & Company lowered their target price on shares of monday.com from $380.00 to $310.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Scotiabank upped their target price on shares of monday.com from $315.00 to $330.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 2nd. Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on shares of monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, Robert W. Baird upped their target price on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and a consensus price target of $345.36.

monday.com Stock Up 4.1%

NASDAQ MNDY traded up $11.37 during trading hours on Tuesday, reaching $290.54. 345,828 shares of the company were exchanged, compared to its average volume of 796,697. The stock has a market capitalization of $14.75 billion, a P/E ratio of 484.23, a P/E/G ratio of 16.53 and a beta of 1.32. monday.com has a 1 year low of $180.66 and a 1 year high of $342.64. The business’s 50 day simple moving average is $255.67 and its 200-day simple moving average is $265.12.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The company had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. During the same period last year, the firm earned $0.61 EPS. monday.com’s revenue for the quarter was up 30.2% on a year-over-year basis. As a group, sell-side analysts anticipate that monday.com will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Spire Wealth Management grew its holdings in monday.com by 7.9% during the 1st quarter. Spire Wealth Management now owns 572 shares of the company’s stock valued at $139,000 after purchasing an additional 42 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of monday.com by 0.3% in the 4th quarter. Clearbridge Investments LLC now owns 13,501 shares of the company’s stock valued at $3,179,000 after purchasing an additional 44 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company’s stock worth $55,000 after purchasing an additional 52 shares during the last quarter. Prudential Financial Inc. lifted its holdings in monday.com by 1.3% in the fourth quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock worth $970,000 after acquiring an additional 53 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of monday.com by 6.1% in the first quarter. Mesirow Financial Investment Management Inc. now owns 950 shares of the company’s stock valued at $231,000 after buying an additional 55 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

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.