Scotiabank Lowers monday.com (NASDAQ:MNDY) Price Target to $315.00

monday.com (NASDAQ:MNDY) had its price target reduced by Scotiabank from $400.00 to $315.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 22.46% from the company’s current price.

A number of other analysts have also weighed in on MNDY. KeyCorp upgraded shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price for the company in a report on Tuesday, February 11th. Robert W. Baird increased their target price on shares of monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Tigress Financial increased their target price on shares of monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, William Blair restated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.45.

monday.com Stock Down 3.2 %

NASDAQ MNDY opened at $257.23 on Monday. The company has a 50-day simple moving average of $267.18 and a two-hundred day simple moving average of $269.58. monday.com has a 12-month low of $174.75 and a 12-month high of $342.64. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 428.72, a PEG ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Equities analysts expect that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several institutional investors and hedge funds have recently made changes to their positions in MNDY. Sumitomo Mitsui Trust Group Inc. increased its position in shares of monday.com by 3.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock valued at $18,525,000 after acquiring an additional 2,085 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in monday.com by 6.1% in the third quarter. CIBC Asset Management Inc now owns 3,512 shares of the company’s stock worth $976,000 after purchasing an additional 202 shares during the last quarter. Natixis Advisors LLC boosted its holdings in monday.com by 11.9% in the third quarter. Natixis Advisors LLC now owns 60,834 shares of the company’s stock worth $16,898,000 after purchasing an additional 6,488 shares during the last quarter. Swiss National Bank boosted its stake in shares of monday.com by 2.2% during the 3rd quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $30,944,000 after acquiring an additional 2,400 shares during the last quarter. Finally, LMR Partners LLP boosted its stake in shares of monday.com by 11.8% during the 3rd quarter. LMR Partners LLP now owns 55,912 shares of the company’s stock worth $15,531,000 after acquiring an additional 5,912 shares during 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.