monday.com (NASDAQ:MNDY) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of monday.com (NASDAQ:MNDY) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the company. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of monday.com in a report on Tuesday, August 11th. Cantor Fitzgerald downgraded monday.com from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Weiss Ratings restated a “sell (d+)” rating on shares of monday.com in a research report on Tuesday, September 8th. Wells Fargo & Company cut their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Finally, Wolfe Research cut shares of monday.com from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 11th. One investment 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 issued a Sell rating to the stock. According to MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and a consensus price target of $111.70.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $76.05 on Friday. monday.com has a 52-week low of $57.50 and a 52-week high of $210.49. The firm has a fifty day moving average of $88.66 and a 200 day moving average of $79.32. The firm has a market capitalization of $3.89 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating 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 business had revenue of $364.62 million for the quarter, compared to analysts’ expectations of $355.55 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts forecast that monday.com will post 2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently modified their holdings of MNDY. Huntington National Bank increased its holdings in monday.com by 6,040.0% during the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock valued at $45,000 after purchasing an additional 302 shares during the period. EverSource Wealth Advisors LLC raised its position in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 354 shares during the last quarter. State of Wyoming lifted its holdings in monday.com by 128.1% in the 4th quarter. State of Wyoming now owns 1,779 shares of the company’s stock worth $263,000 after buying an additional 999 shares during the period. DGS Capital Management LLC lifted its holdings in monday.com by 37.0% in the 4th quarter. DGS Capital Management LLC now owns 1,922 shares of the company’s stock worth $284,000 after buying an additional 519 shares during the period. Finally, DUTCH ASSET Corp bought a new stake in shares of monday.com in the 4th quarter worth approximately $324,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.