monday.com (NASDAQ:MNDY) Stock Rating Cut to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded monday.com from “overweight” to “neutral,” setting an $87 price target—about 10.06% above the prior close.
• Analyst sentiment remains broadly positive but mixed: monday.com has an average “Moderate Buy” rating and a consensus price target of $111.70, with recent ratings ranging from “strong buy” to “sell.”
• Shares opened at $79.05 after falling 5.5%; despite the decline, the company recently exceeded quarterly expectations with $1.48 EPS and $364.62 million in revenue, up 21.9% year over year.

monday.com (NASDAQ:MNDY - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $87.00 price objective on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 10.06% from the company's previous close.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group restated a "hold" rating and issued a $95.00 target price on shares of monday.com in a research note 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. Cantor Fitzgerald cut monday.com from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $112.00 to $90.00 in a research note on Monday, August 10th. Piper Sandler restated a "neutral" rating and issued a $90.00 price objective on shares of monday.com in a report on Monday, August 10th. Finally, BTIG Research reaffirmed a "buy" rating and set a $105.00 price objective on shares of monday.com in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, monday.com presently has an average rating of "Moderate Buy" and an average target price of $111.70.

monday.com Stock Down 5.5%

Shares of NASDAQ:MNDY opened at $79.05 on Tuesday. The firm has a fifty day moving average of $88.60 and a two-hundred day moving average of $79.32. The firm has a market capitalization of $4.04 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.15. monday.com has a 12-month low of $57.50 and a 12-month high of $210.49.

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 business had revenue of $364.62 million for the quarter, compared to analysts' expectations of $355.55 million. During the same period in the previous year, the company posted $1.09 EPS. monday.com's revenue was up 21.9% on a year-over-year basis. Equities research analysts expect that monday.com will post 2.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company's stock worth $29,000 after acquiring an additional 354 shares in the last quarter. Huntington National Bank raised its stake in shares of monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company's stock valued at $45,000 after acquiring an additional 302 shares in the last quarter. Evanson Financial LLC bought a new position in shares of monday.com in the 2nd quarter valued at approximately $219,000. State of Wyoming lifted its holdings in monday.com by 96.6% in the 1st quarter. State of Wyoming now owns 3,497 shares of the company's stock worth $242,000 after purchasing an additional 1,718 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in monday.com by 5.1% in the 2nd quarter. Fulton Bank N.A. now owns 3,339 shares of the company's stock worth $242,000 after purchasing an additional 162 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

About monday.com

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.

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