monday.com (NASDAQ:MNDY) Stock Bumped Down to “Equal Weight” by Barclays

Barclays lowered shares of monday.com (NASDAQ:MNDY) from an overweight rating to an equal weight rating in a research note released on Monday, MarketBeat Ratings reports. They currently have $100.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald cut 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 research note on Monday, August 10th. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price target on shares of monday.com in a report on Monday, August 10th. Citigroup lowered their price objective on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Wolfe Research lowered shares of monday.com from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 11th. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of monday.com in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.70.

monday.com Stock Down 4.7%

MNDY opened at $84.76 on Monday. monday.com has a 52 week low of $57.50 and a 52 week high of $210.49. The business has a 50 day moving average price of $88.74 and a two-hundred day moving average price of $79.90. The company has a market cap of $4.34 billion, a PE ratio of 36.07, a P/E/G ratio of 2.01 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 earnings per share 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 during the quarter, compared to analysts’ expectations of $355.55 million. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, sell-side analysts expect that monday.com will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently added to or reduced their stakes in the company. SEB Asset Management AB purchased a new stake in monday.com in the 1st quarter valued at approximately $1,639,000. Swiss National Bank increased its position in monday.com by 28.6% during the 1st 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 raised its stake in shares of monday.com by 4,194.6% during the 1st 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 purchased a new position in shares of monday.com during the 1st quarter worth approximately $1,534,000. Finally, Royal Bank of Canada raised its stake in shares of monday.com by 88.7% during the 1st quarter. Royal Bank of Canada now owns 30,422 shares of the company’s stock worth $2,102,000 after buying an additional 14,300 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

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.