monday.com (NASDAQ:MNDY) Price Target Cut to $220.00

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

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and set a $230.00 price target on shares of monday.com in a research report on Tuesday, February 13th. Tigress Financial lifted their price target on shares of monday.com from $240.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Wells Fargo & Company assumed coverage on shares of monday.com in a research report on Tuesday, April 9th. They set an overweight rating and a $260.00 price target on the stock. KeyCorp assumed coverage on shares of monday.com in a research report on Thursday, March 21st. They set an overweight rating and a $275.00 price target on the stock. Finally, DA Davidson reaffirmed a neutral rating and set a $190.00 price target on shares of monday.com in a research report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $240.00.

monday.com Stock Performance

MNDY opened at $181.89 on Monday. The company’s 50 day simple moving average is $214.90 and its 200 day simple moving average is $189.25. monday.com has a 1 year low of $108.35 and a 1 year high of $239.22. The stock has a market capitalization of $8.78 billion, a PE ratio of -2,598.43 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $202.60 million for the quarter, compared to analysts’ expectations of $197.97 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 35.5% on a year-over-year basis. As a group, sell-side analysts expect that monday.com will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Desjardins Global Asset Management Inc. increased its stake in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after buying an additional 91 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of monday.com by 44.9% in the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. Arlington Partners LLC increased its stake in shares of monday.com by 104.1% in the third quarter. Arlington Partners LLC now owns 247 shares of the company’s stock worth $39,000 after buying an additional 126 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of monday.com in the third quarter worth $48,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after buying an additional 310 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.