monday.com (NASDAQ:MNDY) Given New $215.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for monday.com (NASDAQ:MNDY) from $310.00 to $215.00, maintaining a "neutral" rating and indicating a potential upside of 23.74% from its current price.
• Other brokerages have also adjusted their price targets, with Citigroup reducing it to $326.00 and Barclays to $258.00, while monday.com has a consensus rating of "Moderate Buy" and a consensus price target of $316.09.
• monday.com reported a 26.6% year-over-year increase in revenue for the latest quarter, achieving $299.01 million, with an earnings per share (EPS) of $1.09 surpassing analyst expectations.

monday.com (NASDAQ:MNDY - Get Free Report) had its price objective lowered by UBS Group from $310.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 23.74% from the stock's current price.

A number of other brokerages also recently issued reports on MNDY. Citigroup cut their price target on shares of monday.com from $381.00 to $326.00 and set a "buy" rating for the company in a report on Tuesday. Barclays dropped their target price on shares of monday.com from $345.00 to $258.00 and set an "overweight" rating for the company in a report on Tuesday. KeyCorp restated an "overweight" rating and set a $330.00 target price on shares of monday.com in a report on Monday. Robert W. Baird dropped their target price on shares of monday.com from $310.00 to $240.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Wall Street Zen downgraded shares of monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, monday.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.09.

monday.com Trading Down 0.2%

Shares of MNDY traded down $0.38 during trading hours on Tuesday, reaching $173.75. The company had a trading volume of 1,963,590 shares, compared to its average volume of 848,977. The firm has a 50 day simple moving average of $287.11 and a 200-day simple moving average of $276.86. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 177.74, a PEG ratio of 89.75 and a beta of 1.27. monday.com has a 12-month low of $173.20 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.25. The business had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The business's revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. Sell-side analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Hedge funds have recently modified their holdings of the stock. ASR Vermogensbeheer N.V. acquired a new position in monday.com during the first quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in monday.com during the first quarter valued at approximately $25,000. NewEdge Advisors LLC lifted its position in monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock valued at $27,000 after buying an additional 106 shares in the last quarter. Grove Bank & Trust acquired a new position in monday.com during the first quarter valued at approximately $30,000. Finally, First Horizon Advisors Inc. lifted its position in monday.com by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after buying an additional 70 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.

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