monday.com (NASDAQ:MNDY) Price Target Cut to $258.00 by Analysts at Barclays

Key Points

• Barclays has reduced its target price for monday.com from $345.00 to $258.00, while maintaining an "overweight" rating on the stock, indicating a potential upside of approximately 42.91% from its current price.
• Several other analysts have also adjusted their ratings and targets, with Morgan Stanley and Jefferies both revising their price targets downward, while still issuing either "overweight" or "buy" ratings.
• monday.com has reported a 26.6% year-over-year increase in revenue and earnings that exceeded analyst expectations, suggesting continued growth despite the recent price target cuts.

monday.com (NASDAQ:MNDY - Get Free Report) had its target price dropped by equities researchers at Barclays from $345.00 to $258.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 42.91% from the stock's current price.

MNDY has been the subject of a number of other research reports. Morgan Stanley raised shares of monday.com from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $330.00 to $260.00 in a research report on Tuesday. Loop Capital dropped their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Robert W. Baird reduced their target price on shares of monday.com from $310.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating and set a $330.00 price target (down from $360.00) on shares of monday.com in a research report on Monday. Finally, Baird R W raised monday.com from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.91.

monday.com Stock Up 3.7%

MNDY stock opened at $180.53 on Tuesday. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 184.22, a price-to-earnings-growth ratio of 89.75 and a beta of 1.27. monday.com has a 52-week low of $173.20 and a 52-week high of $342.64. The stock's fifty day simple moving average is $287.11 and its 200-day simple moving average is $276.86.

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

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently modified their holdings of MNDY. Spire Wealth Management boosted its position in shares of monday.com by 7.9% in the 1st quarter. Spire Wealth Management now owns 572 shares of the company's stock valued at $139,000 after purchasing an additional 42 shares during the period. CWM LLC lifted its stake in monday.com by 31.3% during the second quarter. CWM LLC now owns 210 shares of the company's stock valued at $66,000 after buying an additional 50 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after buying an additional 52 shares during the period. Dakota Wealth Management boosted its holdings in shares of monday.com by 3.0% in the second quarter. Dakota Wealth Management now owns 1,793 shares of the company's stock worth $564,000 after buying an additional 52 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of monday.com by 6.1% in the first quarter. Mesirow Financial Investment Management Inc. now owns 950 shares of the company's stock worth $231,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

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.

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