monday.com (NASDAQ:MNDY) Price Target Cut to $220.00 by Analysts at Canaccord Genuity Group

monday.com (NASDAQ:MNDY) had its target price decreased by Canaccord Genuity Group from $250.00 to $220.00 in a research report released on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of monday.com from $230.00 to $270.00 and gave the stock an overweight rating in a report on Monday, March 25th. Jefferies Financial Group upgraded shares of monday.com from a hold rating to a buy rating and raised their price objective for the stock from $180.00 to $230.00 in a report on Friday, January 5th. Piper Sandler restated an overweight rating and set a $250.00 price objective on shares of monday.com in a report on Tuesday, February 13th. Citigroup downgraded shares of monday.com from a buy rating to a neutral rating and decreased their price objective for the stock from $277.00 to $250.00 in a report on Wednesday, April 10th. Finally, KeyCorp assumed coverage on shares of monday.com in a report on Thursday, March 21st. They set an overweight rating and a $275.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, monday.com currently has an average rating of Moderate Buy and a consensus price target of $240.00.

monday.com Trading Up 2.1 %

monday.com stock opened at $181.89 on Monday. The firm’s fifty day moving average price is $214.90 and its two-hundred day moving average price is $189.25. monday.com has a 1-year low of $108.35 and a 1-year high of $239.22. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of -2,598.43 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. During the same period last year, the firm earned ($0.03) earnings per share. The firm’s revenue was up 35.5% on a year-over-year basis. On average, research analysts forecast that monday.com will post -0.16 EPS for the current year.

Hedge Funds Weigh In On monday.com

A number of large investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of monday.com by 35.8% in the third quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company’s stock valued at $181,124,000 after acquiring an additional 300,011 shares during the period. 1832 Asset Management L.P. boosted its position in shares of monday.com by 12.1% in the fourth quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock valued at $161,573,000 after acquiring an additional 92,600 shares during the period. Jennison Associates LLC bought a new position in shares of monday.com in the fourth quarter valued at approximately $131,086,000. Invesco Ltd. lifted its position in monday.com by 331.6% during the third quarter. Invesco Ltd. now owns 629,572 shares of the company’s stock valued at $100,240,000 after purchasing an additional 483,709 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its position in monday.com by 53.0% during the third quarter. Polar Capital Holdings Plc now owns 431,738 shares of the company’s stock valued at $68,741,000 after purchasing an additional 149,587 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

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.