monday.com (NASDAQ:MNDY) Price Target Lowered to $270.00 at The Goldman Sachs Group

monday.com (NASDAQ:MNDY – Get Rating) had its price target lowered by The Goldman Sachs Group from $390.00 to $270.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently commented on MNDY. Jefferies Financial Group reduced their target price on monday.com from $400.00 to $280.00 and set a hold rating for the company in a research report on Thursday, January 6th. Cowen reduced their target price on monday.com from $325.00 to $260.00 and set an outperform rating for the company in a research report on Thursday, February 24th. Needham & Company LLC reduced their target price on monday.com from $420.00 to $230.00 and set a buy rating for the company in a research report on Thursday, February 24th. DA Davidson raised monday.com from a neutral rating to a buy rating and reduced their target price for the stock from $275.00 to $170.00 in a research report on Thursday, February 24th. Finally, Piper Sandler reduced their target price on monday.com from $380.00 to $250.00 and set an overweight rating for the company in a research report on Thursday, February 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, monday.com currently has a consensus rating of Buy and an average target price of $288.29.

MNDY opened at $137.17 on Thursday. monday.com has a 1-year low of $113.05 and a 1-year high of $450.00. The business has a 50 day moving average of $164.94 and a 200-day moving average of $258.56.

monday.com (NASDAQ:MNDY – Get Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.28. monday.com had a negative return on equity of 27.33% and a negative net margin of 41.96%. The company had revenue of $95.55 million during the quarter, compared to analysts’ expectations of $87.80 million. During the same period in the prior year, the business earned ($0.64) earnings per share. monday.com’s revenue for the quarter was up 90.5% compared to the same quarter last year. As a group, sell-side analysts predict that monday.com will post -5.71 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in MNDY. Winch Advisory Services LLC acquired a new stake in shares of monday.com in the fourth quarter valued at $33,000. Arlington Partners LLC acquired a new stake in shares of monday.com in the fourth quarter valued at $48,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of monday.com in the fourth quarter valued at $51,000. Atticus Wealth Management LLC acquired a new stake in shares of monday.com in the third quarter valued at $68,000. Finally, Royal Bank of Canada increased its stake in shares of monday.com by 3,483.3% in the third quarter. Royal Bank of Canada now owns 215 shares of the company’s stock valued at $70,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 60.85% of the company’s stock.

monday.com Company Profile (Get Rating)

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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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