monday.com (NASDAQ:MNDY) Stock Moved Down to Equal Weight by Barclays

Key Points

• Barclays downgraded monday.com from “overweight” to “equal weight” but maintained a $100 price target, implying 15.84% upside from the prior close.
• MNDY shares fell 3.0% to $86.32. Despite mixed analyst actions, the stock carries a “Moderate Buy” consensus rating with an average price target of $111.70.
• monday.com reported stronger-than-expected quarterly results, with EPS of $1.48 versus $1.11 expected and revenue of $364.62 million, up 21.9% year over year.

monday.com (NASDAQ:MNDY - Get Free Report) was downgraded by research analysts at Barclays from an "overweight" rating to an "equal weight" rating in a report released on Monday, MarketBeat Ratings reports. They presently have a $100.00 price objective on the stock. Barclays's price target suggests a potential upside of 15.84% from the company's previous close.

MNDY has been the topic of several other research reports. JPMorgan Chase & Co. lowered shares of monday.com from an "overweight" rating to a "neutral" rating and cut their price target for the company from $90.00 to $87.00 in a report on Tuesday, September 29th. Wells Fargo & Company decreased their price objective on shares of monday.com from $130.00 to $120.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Piper Sandler reaffirmed a "neutral" rating and set a $90.00 target price on shares of monday.com in a report on Monday, August 10th. Zacks Research raised monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Finally, Citigroup lowered their target price on 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 analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, monday.com has a consensus rating of "Moderate Buy" and an average price target of $111.70.

monday.com Stock Down 3.0%

Shares of MNDY stock traded down $2.64 during trading hours on Monday, hitting $86.32. 118,881 shares of the company were exchanged, compared to its average volume of 1,810,676. The firm has a market cap of $4.42 billion, a PE ratio of 36.65, a PEG ratio of 2.01 and a beta of 1.14. monday.com has a 1 year low of $57.50 and a 1 year high of $210.49. The firm has a fifty day moving average of $88.83 and a 200 day moving average of $79.81.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same quarter last year, the firm posted $1.09 earnings per share. monday.com's revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts expect that monday.com will post 2.34 earnings per share for the current year.

Institutional Trading of monday.com

Institutional investors and hedge funds have recently modified their holdings of the company. SEB Asset Management AB bought a new stake in monday.com in the first quarter valued at $1,639,000. Swiss National Bank grew its position in monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company's stock valued at $10,995,000 after acquiring an additional 35,400 shares during the period. Empowered Funds LLC grew its position in monday.com by 4,194.6% in the first quarter. Empowered Funds LLC now owns 14,430 shares of the company's stock valued at $997,000 after acquiring an additional 14,094 shares during the period. Arkadios Wealth Advisors bought a new stake in monday.com in the first quarter valued at $1,534,000. Finally, Royal Bank of Canada grew its position in monday.com by 88.7% in the first quarter. Royal Bank of Canada now owns 30,422 shares of the company's stock valued at $2,102,000 after acquiring an additional 14,300 shares during the period. 73.70% of the stock is currently owned by institutional investors.

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.