Citigroup Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

Key Points

• Citigroup cut its price target for monday.com from $293 to $230 but kept a "buy" rating, a target that still implies roughly a 103.7% upside from the stock's previous close.
• monday.com is trading around $112.91, near its 52‑week low of $112.50 (vs. a 52‑week high of $342.64), with a market cap of $5.73 billion and a high P/E of 92.02.
• Analysts' consensus is a "Moderate Buy" (21 Buys, 3 Holds, 1 Sell) with an average price target of $245.70, and institutional investors own 73.7% of the shares after several large recent stake increases by funds like Capital World Investors and Norges Bank.

monday.com (NASDAQ:MNDY - Get Free Report) had its price objective decreased by stock analysts at Citigroup from $293.00 to $230.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective points to a potential upside of 103.69% from the stock's previous close.

Several other research analysts also recently weighed in on the stock. Guggenheim restated a "buy" rating on shares of monday.com in a research note on Friday, January 16th. Tigress Financial upped their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, December 10th. DA Davidson dropped their target price on monday.com from $275.00 to $250.00 and set a "buy" rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. reduced their price target on monday.com from $285.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, November 11th. Finally, Zacks Research upgraded monday.com from a "strong sell" rating to a "hold" rating in a report on Friday, October 10th. Twenty-one analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $245.70.

monday.com Price Performance

NASDAQ MNDY traded down $1.84 during trading hours on Monday, hitting $112.91. The company had a trading volume of 1,059,945 shares, compared to its average volume of 1,523,211. The firm's 50 day moving average is $143.03 and its 200 day moving average is $180.76. monday.com has a fifty-two week low of $112.50 and a fifty-two week high of $342.64. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 92.02, a P/E/G ratio of 2.59 and a beta of 1.26.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.27. The company had revenue of $316.86 million during the quarter, compared to the consensus estimate of $312.26 million. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company's revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, equities analysts anticipate that monday.com will post 0.46 EPS for the current year.

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently made changes to their positions in the business. Capital World Investors increased its stake in monday.com by 231.2% during the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company's stock valued at $332,617,000 after buying an additional 1,198,761 shares during the period. Norges Bank acquired a new position in shares of monday.com during the second quarter valued at approximately $161,114,000. SG Americas Securities LLC raised its holdings in monday.com by 110.9% during the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company's stock worth $137,660,000 after purchasing an additional 490,491 shares in the last quarter. Baillie Gifford & Co. lifted its position in monday.com by 136.5% in the third quarter. Baillie Gifford & Co. now owns 708,278 shares of the company's stock worth $137,186,000 after purchasing an additional 408,848 shares during the period. Finally, Nordea Investment Management AB boosted its stake in monday.com by 2,501.5% during the third quarter. Nordea Investment Management AB now owns 326,951 shares of the company's stock valued at $62,990,000 after buying an additional 314,383 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

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