monday.com (NASDAQ:MNDY) Price Target Lowered to $300.00 at Piper Sandler

Key Points

• Analysts at Piper Sandler lowered their target price for monday.com from $325.00 to $300.00, while maintaining an "overweight" rating on the stock.
• Despite the price target reduction, the stock still has a potential upside of 72.66% from its previous close of $173.75.
• Recent quarterly earnings showed monday.com reported $1.09 earnings per share, exceeding expectations, alongside a revenue increase of 26.6% year-over-year.

monday.com (NASDAQ:MNDY - Get Free Report) had its target price cut by analysts at Piper Sandler from $325.00 to $300.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price objective points to a potential upside of 72.66% from the stock's previous close.

MNDY has been the subject of a number of other research reports. Canaccord Genuity Group reduced their price target on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Barclays reduced their target price on monday.com from $345.00 to $258.00 and set an "overweight" rating for the company in a report on Tuesday. Morgan Stanley raised monday.com from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $330.00 to $260.00 in a report on Tuesday. Scotiabank increased their target price on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. Finally, KeyCorp reissued an "overweight" rating and set a $330.00 target price on shares of monday.com in a 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $316.09.

monday.com Price Performance

NASDAQ MNDY traded down $0.38 during trading hours on Tuesday, reaching $173.75. The company's stock had a trading volume of 1,963,590 shares, compared to its average volume of 848,977. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 177.74, a P/E/G ratio of 89.75 and a beta of 1.27. monday.com has a 1-year low of $173.20 and a 1-year high of $342.64. The company's 50-day moving average is $287.11 and its two-hundred day moving average is $276.86.

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. The company had revenue of $299.01 million during the quarter, compared to analysts' expectations of $293.60 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. monday.com's quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities analysts forecast that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MNDY. Spire Wealth Management grew its stake in shares of monday.com by 7.9% in the first quarter. Spire Wealth Management now owns 572 shares of the company's stock valued at $139,000 after buying an additional 42 shares in the last quarter. CWM LLC grew its stake in shares of monday.com by 31.3% in 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 grew its stake 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 valued at $55,000 after buying an additional 52 shares in the last quarter. Dakota Wealth Management grew its stake 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 valued at $564,000 after buying an additional 52 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake 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 valued at $231,000 after buying an additional 55 shares in 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.

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