JPMorgan Chase & Co. Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY - Free Report) had its target price decreased by JPMorgan Chase & Co. from $400.00 to $350.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler lowered their price target on monday.com from $385.00 to $305.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on monday.com from $380.00 to $310.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Barclays lifted their price target on shares of monday.com from $325.00 to $360.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Robert W. Baird increased their target price on shares of monday.com from $275.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 11th. Finally, Scotiabank boosted their price target on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $342.86.

monday.com Stock Down 1.2 %

Shares of NASDAQ:MNDY traded down $3.45 during midday trading on Tuesday, reaching $278.24. 1,294,916 shares of the company traded hands, compared to its average volume of 793,164. monday.com has a 12 month low of $180.66 and a 12 month high of $342.64. The firm's fifty day moving average price is $255.69 and its two-hundred day moving average price is $265.49. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 463.73, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. Analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its position in monday.com by 225.8% in the third quarter. Barclays PLC now owns 17,427 shares of the company's stock valued at $4,840,000 after purchasing an additional 12,078 shares during the period. Principal Financial Group Inc. lifted its stake in monday.com by 35.8% during the 3rd quarter. Principal Financial Group Inc. now owns 53,306 shares of the company's stock worth $14,807,000 after acquiring an additional 14,059 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in monday.com by 17.2% during the 4th quarter. CWA Asset Management Group LLC now owns 3,199 shares of the company's stock valued at $753,000 after acquiring an additional 470 shares during the period. Park Avenue Securities LLC purchased a new stake in monday.com during the fourth quarter worth about $241,000. Finally, Channel Wealth LLC acquired a new position in shares of monday.com in the fourth quarter worth $986,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.