Barclays Lowers monday.com (NASDAQ:MNDY) Price Target to $345.00

monday.com (NASDAQ:MNDY) had its price objective lowered by Barclays from $360.00 to $345.00 in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 17.82% from the company’s previous close.

A number of other analysts also recently issued reports on MNDY. JPMorgan Chase & Co. dropped their price target on monday.com from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Robert W. Baird lifted their price target on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Wells Fargo & Company dropped their price target on monday.com from $380.00 to $310.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of monday.com in a research report on Tuesday. Finally, Jefferies Financial Group dropped their price target on monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.50.

monday.com Stock Up 0.8%

Shares of NASDAQ MNDY opened at $292.83 on Tuesday. monday.com has a 52 week low of $188.01 and a 52 week high of $342.64. The business has a 50-day simple moving average of $257.21 and a two-hundred day simple moving average of $265.49. The company has a market cap of $14.87 billion, a P/E ratio of 488.05, a P/E/G ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last issued its earnings results 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 return on equity of 6.22% and a net margin of 3.33%. The business had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that monday.com will post 0.46 EPS for the current year.

Hedge Funds Weigh In On monday.com

A number of large investors have recently modified their holdings of MNDY. Barclays PLC increased its stake in monday.com by 225.8% in the 3rd quarter. Barclays PLC now owns 17,427 shares of the company’s stock worth $4,840,000 after purchasing an additional 12,078 shares during the period. Principal Financial Group Inc. increased its stake in monday.com by 35.8% in the 3rd quarter. Principal Financial Group Inc. now owns 53,306 shares of the company’s stock worth $14,807,000 after purchasing an additional 14,059 shares during the period. Park Avenue Securities LLC purchased a new position in monday.com in the 4th quarter worth approximately $241,000. Channel Wealth LLC purchased a new position in monday.com in the 4th quarter worth approximately $986,000. Finally, Oak Ridge Investments LLC purchased a new position in monday.com in the 4th quarter worth approximately $633,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Company Profile

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.