DA Davidson Cuts monday.com (NASDAQ:MNDY) Price Target to $275.00

Key Points

• DA Davidson has lowered its price target for monday.com from $325.00 to $275.00 while maintaining a "buy" rating, indicating a potential upside of 59.74% from its previous close.
• Several other firms have also reduced their price targets for monday.com, with a consensus price target now at $311.09 from various ratings, showcasing a mixed outlook among analysts.
• Despite recent adjustments, institutional investors are actively increasing their holdings in monday.com, with institutional ownership now at 73.70% of the company's stock.

monday.com (NASDAQ:MNDY - Free Report) had its target price trimmed by DA Davidson from $325.00 to $275.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently commented on MNDY. TD Cowen dropped their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. UBS Group dropped their price objective 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. Needham & Company LLC dropped their price objective on shares of monday.com from $400.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Finally, Oppenheimer reissued an "outperform" rating and issued a $300.00 price objective on shares of monday.com in a research report on Monday. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $305.18.

monday.com Trading Down 0.7%

MNDY traded down $1.18 during trading hours on Tuesday, hitting $175.74. 1,660,523 shares of the company's stock were exchanged, compared to its average volume of 1,540,328. monday.com has a 12-month low of $171.54 and a 12-month high of $342.64. The firm has a 50 day moving average of $276.72 and a 200 day moving average of $274.37. The firm has a market cap of $8.92 billion, a P/E ratio of 237.49, a price-to-earnings-growth ratio of 5.95 and a beta of 1.27.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results 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. monday.com had a net margin of 3.63% and a return on equity of 6.32%. The firm had revenue of $299.01 million for the quarter, compared to the consensus estimate of $293.60 million. During the same period in the prior year, the firm earned $0.94 EPS. The firm's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, research analysts expect that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

A number of large investors have recently bought and sold shares of the business. Public Sector Pension Investment Board boosted its stake in monday.com by 9.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 20,361 shares of the company's stock worth $6,403,000 after purchasing an additional 1,700 shares during the period. Ion Asset Management Ltd. raised its position in monday.com by 15.1% during the 2nd quarter. Ion Asset Management Ltd. now owns 45,780 shares of the company's stock worth $14,397,000 after buying an additional 6,000 shares during the last quarter. Rakuten Securities Inc. raised its position in monday.com by 47.6% during the 2nd quarter. Rakuten Securities Inc. now owns 2,730 shares of the company's stock worth $859,000 after buying an additional 880 shares during the last quarter. State of Tennessee Department of Treasury raised its position in monday.com by 4.9% during the 2nd quarter. State of Tennessee Department of Treasury now owns 104,470 shares of the company's stock worth $32,854,000 after buying an additional 4,875 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in monday.com by 11.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,731 shares of the company's stock worth $2,117,000 after buying an additional 698 shares during the last quarter. Institutional investors and hedge funds 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.