Barclays Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective lowered by Barclays from $345.00 to $258.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC cut their price target on monday.com from $400.00 to $250.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird cut their price target on monday.com from $310.00 to $240.00 and set an “outperform” rating for the company in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $325.00 price target on shares of monday.com in a report on Friday, June 27th. Scotiabank raised their price target on monday.com from $315.00 to $330.00 and gave the stock a “sector outperform” rating in a report on Friday, May 2nd. Finally, UBS Group dropped their price objective on monday.com from $350.00 to $310.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $311.09.

monday.com Trading Down 1.1%

Shares of NASDAQ MNDY opened at $172.15 on Tuesday. The stock has a fifty day simple moving average of $284.40 and a two-hundred day simple moving average of $276.13. monday.com has a 1-year low of $171.54 and a 1-year high of $342.64. The firm has a market cap 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.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. monday.com had a return on equity of 6.56% and a net margin of 3.63%. The firm had revenue of $299.01 million during the quarter, compared to analyst estimates of $293.60 million. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts forecast that monday.com will post 0.46 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently added to or reduced their stakes in MNDY. Polen Capital Management LLC increased its holdings in shares of monday.com by 34.0% in the first quarter. Polen Capital Management LLC now owns 71,261 shares of the company’s stock worth $17,328,000 after buying an additional 18,075 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of monday.com by 5.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,700 shares of the company’s stock worth $4,304,000 after buying an additional 900 shares during the period. ARK Investment Management LLC increased its holdings in shares of monday.com by 25.7% in the first quarter. ARK Investment Management LLC now owns 8,030 shares of the company’s stock worth $1,953,000 after buying an additional 1,643 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of monday.com by 109.2% in the first quarter. Asset Management One Co. Ltd. now owns 27,231 shares of the company’s stock worth $6,647,000 after buying an additional 14,213 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of monday.com by 62.0% in the fourth quarter. Bank of Montreal Can now owns 22,097 shares of the company’s stock worth $5,203,000 after buying an additional 8,454 shares during the period. 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.