monday.com (NASDAQ:MNDY) Given New $290.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered its price target for monday.com from $360.00 to $290.00, maintaining a "buy" rating, indicating a potential upside of 66.91% from the current stock price.
• Analysts' ratings for the stock vary, with 23 buy ratings, 2 hold ratings, and 1 strong buy rating, resulting in a consensus rating of "Moderate Buy" and a consensus price target of $316.09.
• monday.com recently reported better-than-expected earnings, with a revenue increase of 26.6% year-over-year, and an EPS of $1.09, exceeding analysts’ estimates of $0.84.

monday.com (NASDAQ:MNDY - Get Free Report) had its target price decreased by analysts at TD Cowen from $360.00 to $290.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 66.91% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Baird R W raised shares of monday.com from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. dropped their price objective on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Needham & Company LLC dropped their price objective on shares of monday.com from $400.00 to $250.00 and set a "buy" rating for the company in a report on Monday. Jefferies Financial Group reiterated a "buy" rating and issued a $330.00 price objective (down previously from $360.00) on shares of monday.com in a report on Monday. Finally, Piper Sandler dropped their price objective on shares of monday.com from $325.00 to $300.00 and set an "overweight" rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.09.

monday.com Stock Down 0.2%

Shares of MNDY stock traded down $0.38 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 stock has a market capitalization of $8.82 billion, a PE ratio of 177.74, a price-to-earnings-growth ratio of 89.75 and a beta of 1.27. monday.com has a one year low of $173.20 and a one year high of $342.64. The business's 50-day moving average is $287.11 and its 200 day moving average is $276.86.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.25. The firm had revenue of $299.01 million during the quarter, compared to analysts' expectations 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 for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, sell-side analysts forecast that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Several large investors have recently modified their holdings of the stock. WCM Investment Management LLC grew its position in shares of monday.com by 0.4% during the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock worth $1,007,550,000 after buying an additional 17,371 shares during the period. Price T Rowe Associates Inc. MD grew its position in monday.com by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company's stock valued at $583,969,000 after purchasing an additional 745,686 shares during the period. JPMorgan Chase & Co. grew its position in monday.com by 9.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company's stock valued at $576,442,000 after purchasing an additional 150,987 shares during the period. Rubicon Global Capital Ltd grew its position in monday.com by 155.3% in the 2nd quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company's stock valued at $453,763,000 after purchasing an additional 877,700 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in monday.com by 98.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 924,325 shares of the company's stock valued at $224,759,000 after purchasing an additional 458,794 shares during the period. Institutional investors and hedge funds own 73.70% of the company's stock.

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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