Canaccord Genuity Group Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY - Free Report) had its price target cut by Canaccord Genuity Group from $375.00 to $350.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Tigress Financial lifted their price objective on shares of monday.com from $340.00 to $450.00 and gave the company a "buy" rating in a research note on Friday, February 21st. DA Davidson reduced their target price on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group increased their price target on monday.com from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. KeyCorp upgraded monday.com from a "sector weight" rating to an "overweight" rating and set a $420.00 target price on the stock in a research note on Tuesday, February 11th. Finally, Citigroup raised shares of monday.com from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $346.50.

monday.com Stock Up 1.4%

Shares of MNDY traded up $4.03 during trading hours on Tuesday, reaching $297.00. 29,798 shares of the company traded hands, compared to its average volume of 775,648. The business has a fifty day moving average price of $258.41 and a 200-day moving average price of $265.46. monday.com has a 12-month low of $188.01 and a 12-month high of $342.64. The stock has a market capitalization of $15.08 billion, a P/E ratio of 494.26, a P/E/G ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.40. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The business had revenue of $282.25 million for the quarter, compared to the consensus estimate of $275.93 million. During the same quarter in the previous year, the business earned $0.61 EPS. The company's quarterly revenue was up 30.2% compared to the same quarter last year. As a group, research analysts predict that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its holdings in shares of monday.com by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company's stock valued at $1,593,000 after acquiring an additional 1,318 shares during the period. SBI Securities Co. Ltd. purchased a new stake in monday.com during the 4th quarter valued at approximately $245,000. Bank of Montreal Can lifted its position in monday.com by 62.0% during the 4th quarter. Bank of Montreal Can now owns 22,097 shares of the company's stock worth $5,203,000 after acquiring an additional 8,454 shares during the period. Bailard Inc. grew its stake in shares of monday.com by 147.5% in the 4th quarter. Bailard Inc. now owns 7,055 shares of the company's stock valued at $1,661,000 after purchasing an additional 4,204 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of monday.com by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company's stock valued at $60,144,000 after purchasing an additional 8,329 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.