monday.com (NASDAQ:MNDY) Price Target Cut to $270.00 by Analysts at The Goldman Sachs Group

Key Points

• Goldman Sachs has reduced its price target for monday.com (NASDAQ:MNDY) from $350.00 to $270.00, while maintaining a "buy" rating, suggesting a potential upside of 56.84% from the current stock price.
• Several analysts have also lowered their target prices for the stock, with the consensus target price set at $305.18 and an average rating of "Moderate Buy."
• monday.com reported a net margin of 3.63% and revenue growth of 26.6% year-over-year, finishing the quarter with earnings per share of $1.09, surpassing the market's expectations.

monday.com (NASDAQ:MNDY - Get Free Report) had its target price cut by investment analysts at The Goldman Sachs Group from $350.00 to $270.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 56.84% from the stock's current price.

A number of other equities analysts also recently commented on MNDY. JPMorgan Chase & Co. decreased 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. Loop Capital cut their target price on monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. TD Cowen dropped their price target on shares of monday.com from $360.00 to $290.00 and set a "buy" rating on the stock in a research report on Tuesday. UBS Group dropped their price target on shares of monday.com from $310.00 to $215.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, KeyCorp reiterated an "overweight" rating and issued a $330.00 price target on shares of monday.com in a research report on Monday. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $305.18.

monday.com Stock Down 1.1%

Shares of NASDAQ:MNDY opened at $172.15 on Wednesday. monday.com has a 52-week low of $171.54 and a 52-week high of $342.64. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 232.64, a price-to-earnings-growth ratio of 63.01 and a beta of 1.27. The company has a 50 day moving average of $284.40 and a two-hundred day moving average of $276.13.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.25. monday.com had a net margin of 3.63% and a return on equity of 6.56%. The business had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. During the same quarter last year, the company earned $0.94 earnings per share. The business's quarterly revenue was up 26.6% compared to the same quarter last year. On average, equities analysts anticipate that monday.com will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors have recently made changes to their positions in the company. Spire Wealth Management lifted its holdings in monday.com by 7.9% in the 1st quarter. Spire Wealth Management now owns 572 shares of the company's stock worth $139,000 after purchasing an additional 42 shares during the last quarter. CWM LLC lifted its holdings in monday.com by 31.3% in the 2nd quarter. CWM LLC now owns 210 shares of the company's stock worth $66,000 after purchasing an additional 50 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in monday.com by 32.7% in the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after purchasing an additional 52 shares during the last quarter. Dakota Wealth Management lifted its holdings in monday.com by 3.0% in the 2nd quarter. Dakota Wealth Management now owns 1,793 shares of the company's stock worth $564,000 after purchasing an additional 52 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in monday.com by 6.1% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 950 shares of the company's stock worth $231,000 after purchasing an additional 55 shares during the last quarter. 73.70% of the stock is currently 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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