monday.com (NASDAQ:MNDY) Cut to Neutral at JPMorgan Chase & Co.

monday.com (NASDAQ:MNDY) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $87.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.06% from the company’s previous close.

Several other research firms have also recently weighed in on MNDY. Zacks Research raised monday.com from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered monday.com from a “buy” rating to a “hold” rating in a report on Sunday. Wolfe Research downgraded monday.com from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of monday.com in a research report on Tuesday, September 8th. Finally, Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $112.00 to $90.00 in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.70.

monday.com Price Performance

Shares of MNDY opened at $79.05 on Tuesday. The company has a market capitalization of $4.04 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.15. monday.com has a one year low of $57.50 and a one year high of $210.49. The company’s fifty day moving average price is $88.60 and its 200 day moving average price is $79.32.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. Analysts anticipate that monday.com will post 2.25 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently added to or reduced their stakes in MNDY. SEB Asset Management AB bought a new stake in shares of monday.com during the first quarter valued at approximately $1,639,000. Swiss National Bank lifted its position in monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after purchasing an additional 35,400 shares during the period. Empowered Funds LLC boosted its stake in monday.com by 4,194.6% during the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after buying an additional 14,094 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in monday.com during the first quarter worth $1,534,000. Finally, Royal Bank of Canada increased its holdings in monday.com by 88.7% in the 1st quarter. Royal Bank of Canada now owns 30,422 shares of the company’s stock valued at $2,102,000 after buying an additional 14,300 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.