monday.com (NASDAQ:MNDY) Stock Gets Downgrade from Barclays

monday.com (NASDAQ:MNDY) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat reports. They presently have a $100.00 price objective on the stock. Barclays‘s target price would suggest a potential upside of 17.68% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research note on Monday, October 5th. Jefferies Financial Group restated a “hold” rating and issued a $95.00 price target on shares of monday.com in a research note on Monday, August 10th. Capital One Financial downgraded shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Monday, August 10th. Piper Sandler restated a “neutral” rating and issued a $90.00 price target on shares of monday.com in a research note on Monday, August 10th. Finally, Citigroup reduced their price target on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.70.

monday.com Trading Up 0.3%

monday.com stock traded up $0.22 during trading hours on Monday, reaching $84.98. 348,450 shares of the stock were exchanged, compared to its average volume of 1,807,082. The stock has a 50 day moving average of $88.74 and a two-hundred day moving average of $79.90. 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 $4.35 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period last year, the company posted $1.09 EPS. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, analysts expect 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 added to or reduced their stakes in MNDY. Renaissance Technologies LLC boosted its position in monday.com by 93.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after buying an additional 1,052,900 shares during the period. RPD Fund Management LLC acquired a new stake in monday.com during the 1st quarter worth approximately $17,529,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in monday.com during the 2nd quarter worth approximately $5,098,000. Counterpoint Mutual Funds LLC boosted its position in monday.com by 2,038.1% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 73,507 shares of the company’s stock worth $5,080,000 after buying an additional 70,069 shares during the period. Finally, Optimus Prime Fund Management Co. Ltd. acquired a new stake in monday.com during the 4th quarter worth approximately $10,329,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.