monday.com (NASDAQ:MNDY) Earns Neutral Rating from Piper Sandler

Key Points

• Piper Sandler reaffirmed a “neutral” rating on monday.com and set a $90 price target, implying approximately 8% downside from the prior close.
• Analyst sentiment remains mixed but leans positive overall: MarketBeat reports a “Moderate Buy” consensus, with 13 Buy ratings and 12 Hold ratings and an average price target of $111.70.
• monday.com reported quarterly adjusted EPS of $1.48, beating estimates of $1.11, while revenue reached $364.62 million, up 21.9% year over year and above expectations.

monday.com (NASDAQ:MNDY - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Piper Sandler in a research note issued to investors on Thursday, Benzinga reports. They presently have a $90.00 price objective on the stock. Piper Sandler's target price would suggest a potential downside of 7.99% from the company's previous close.

Several other brokerages have also commented on MNDY. Jefferies Financial Group reaffirmed a "hold" rating and issued a $95.00 price objective on shares of monday.com in a report on Monday, August 10th. BTIG Research reissued a "buy" rating and issued a $105.00 target price on shares of monday.com in a report on Thursday. JPMorgan Chase & Co. cut monday.com from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $90.00 to $87.00 in a research report on Tuesday, September 29th. UBS Group restated a "buy" rating on shares of monday.com in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of monday.com from $130.00 to $120.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, monday.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.70.

monday.com Trading Down 1.8%

Shares of MNDY stock opened at $97.82 on Thursday. monday.com has a 12-month low of $57.50 and a 12-month high of $210.49. The stock has a market capitalization of $5.00 billion, a P/E ratio of 41.63, a P/E/G ratio of 2.40 and a beta of 1.14. The firm's 50 day moving average is $90.62 and its 200 day moving average is $84.51.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its 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. The business had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. As a group, equities analysts predict that monday.com will post 2.34 earnings per share for the current year.

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the company's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the sale, the director directly owned 203,455 shares in the company, valued at $20,353,638.20. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently bought and sold shares of MNDY. Renaissance Technologies LLC grew its holdings in monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the period. RPD Fund Management LLC purchased a new stake in monday.com in the first quarter worth about $17,529,000. Bank of America Corp DE raised its stake in shares of monday.com by 33.6% in the first quarter. Bank of America Corp DE now owns 194,635 shares of the company's stock worth $13,451,000 after buying an additional 49,002 shares during the period. Swiss National Bank raised its stake in shares of monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company's stock worth $10,995,000 after buying an additional 35,400 shares during the period. Finally, Ardmore Road Asset Management LP raised its stake in shares of monday.com by 18.1% in the first quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company's stock worth $8,203,000 after buying an additional 18,234 shares during the period. 73.70% of the stock is owned by institutional investors.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.

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