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

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

MNDY has been the topic of a number of other research reports. Scotiabank increased their target price on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. DA Davidson cut their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Canaccord Genuity Group lowered their price objective on monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating and issued a $325.00 price objective on shares of monday.com in a report on Friday, June 27th. Finally, Morgan Stanley initiated coverage on monday.com in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $347.09.

monday.com Stock Performance

Shares of NASDAQ MNDY traded down $1.44 during trading hours on Friday, reaching $305.95. 358,079 shares of the stock were exchanged, compared to its average volume of 738,444. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 312.19, a P/E/G ratio of 111.23 and a beta of 1.30. The stock's fifty day simple moving average is $294.01 and its 200 day simple moving average is $270.09. monday.com has a 52 week low of $188.01 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. During the same period in the prior year, the firm posted $0.61 EPS. The company's revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts predict that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Asset Management One Co. Ltd. boosted its position in monday.com by 109.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 27,231 shares of the company's stock worth $6,647,000 after buying an additional 14,213 shares during the period. Bank of Montreal Can lifted its holdings in shares of monday.com by 62.0% during the fourth quarter. Bank of Montreal Can now owns 22,097 shares of the company's stock worth $5,203,000 after purchasing an additional 8,454 shares during the period. Rubicon Global Capital Ltd bought a new stake in shares of monday.com in the first quarter worth $137,434,000. Twinbeech Capital LP bought a new stake in shares of monday.com in the fourth quarter worth $12,146,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in monday.com in the fourth quarter valued at $9,629,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

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.