JPMorgan Chase & Co. Cuts monday.com (NASDAQ:MNDY) Price Target to $350.00

monday.com (NASDAQ:MNDY) had its target price reduced by JPMorgan Chase & Co. from $400.00 to $350.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on the stock. Barclays boosted their price objective on shares of monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Cantor Fitzgerald boosted their price target on monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Scotiabank increased their price objective on monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a research report on Friday, May 2nd. Piper Sandler decreased their target price on monday.com from $385.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised their price target on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.86.

monday.com Stock Up 2.0 %

MNDY stock opened at $281.87 on Tuesday. The business has a 50 day moving average of $255.66 and a 200 day moving average of $265.68. The firm has a market cap of $14.31 billion, a PE ratio of 469.79, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32. monday.com has a twelve month low of $180.66 and a twelve month high of $342.64.

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 return on equity of 6.22% and a net margin of 3.33%. On average, research analysts expect that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stonebridge Financial Group LLC bought a new stake in monday.com during the 4th quarter valued at approximately $25,000. Arcadia Investment Management Corp MI bought a new stake in shares of monday.com during the fourth quarter valued at approximately $28,000. Grove Bank & Trust purchased a new position in shares of monday.com in the first quarter worth $30,000. R Squared Ltd bought a new position in shares of monday.com during the fourth quarter worth $33,000. Finally, Signaturefd LLC grew its stake in monday.com by 157.1% during the fourth quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after acquiring an additional 88 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

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.