monday.com (NASDAQ:MNDY) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded monday.com from “buy” to “hold,” adding to mixed analyst sentiment. The stock still carries a consensus “Moderate Buy” rating with an average price target of $117.91.
• monday.com reported quarterly EPS of $1.48, beating estimates of $1.11, while revenue reached $364.62 million and grew 21.9% year over year.
• Shares opened at $83.66, well below their 52-week high of $210.49. Institutional investors own 73.7% of the company, with several funds increasing their positions.

monday.com (NASDAQ:MNDY - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

MNDY has been the subject of a number of other research reports. Wolfe Research cut shares of monday.com from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 11th. Weiss Ratings restated a "sell (d+)" rating on shares of monday.com in a report on Tuesday, September 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $95.00 target price on shares of monday.com in a research report on Monday, August 10th. Citigroup dropped their price target on monday.com from $154.00 to $132.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Finally, Wells Fargo & Company reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, monday.com has a consensus rating of "Moderate Buy" and a consensus price target of $117.91.

monday.com Price Performance

Shares of monday.com stock opened at $83.66 on Friday. monday.com has a 52-week low of $57.50 and a 52-week high of $210.49. The company's fifty day moving average price is $88.55 and its two-hundred day moving average price is $79.32. The firm has a market capitalization of $4.28 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.15.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $364.62 million for the quarter, compared to analysts' expectations of $355.55 million. During the same period in the prior year, the firm earned $1.09 EPS. monday.com's quarterly revenue was up 21.9% compared to the same quarter last year. Analysts predict that monday.com will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. SEB Asset Management AB bought a new stake in shares of monday.com in the first quarter valued at approximately $1,639,000. Swiss National Bank increased its stake in monday.com by 28.6% during the 1st quarter. Swiss National Bank now owns 159,100 shares of the company's stock worth $10,995,000 after acquiring an additional 35,400 shares during the period. Empowered Funds LLC increased its stake in monday.com by 4,194.6% during the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company's stock worth $997,000 after acquiring an additional 14,094 shares during the period. Arkadios Wealth Advisors acquired a new position in monday.com in the 1st quarter valued at $1,534,000. Finally, Royal Bank of Canada raised its holdings in monday.com by 88.7% in the 1st 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 in the last quarter. 73.70% of the stock is owned by institutional investors.

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.

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