monday.com (NASDAQ:MNDY) Downgraded by Barclays to Equal Weight

monday.com (NASDAQ:MNDY) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $100.00 target price on the stock. Barclays‘s price objective suggests a potential upside of 17.79% from the stock’s current price.

A number of other research analysts have also weighed in on MNDY. Citigroup dropped their target price on monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. UBS Group lifted their price objective on monday.com from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and issued a $105.00 target price on shares of monday.com in a research report on Monday, August 10th. Cantor Fitzgerald downgraded shares of monday.com from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $112.00 to $90.00 in a research note on Monday, August 10th. Finally, Wells Fargo & Company cut their price target on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $111.70.

monday.com Price Performance

Shares of NASDAQ MNDY traded up $0.21 during mid-day trading on Monday, hitting $84.90. 247,987 shares of the stock traded hands, compared to its average volume of 1,802,477. The firm has a 50 day simple moving average of $88.56 and a two-hundred day simple moving average of $80.01. monday.com has a twelve month low of $57.50 and a twelve month high of $210.49. The company has a market cap of $4.34 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities research analysts anticipate that monday.com will post 2.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently bought and sold shares of MNDY. Sequoia Financial Advisors LLC increased its stake in shares of monday.com by 60.2% during the second quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company’s stock valued at $457,000 after purchasing an additional 2,373 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of monday.com by 29.5% in the second quarter. Engineers Gate Manager LP now owns 38,981 shares of the company’s stock worth $2,822,000 after purchasing an additional 8,891 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of monday.com during the 2nd quarter valued at about $5,098,000. Public Employees Retirement System of Ohio purchased a new stake in monday.com during the second quarter valued at $970,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of monday.com in the 2nd quarter worth $432,000. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.