monday.com (NASDAQ:MNDY) Price Target Cut to $258.00 by Analysts at Barclays

monday.com (NASDAQ:MNDY) had its price target cut by Barclays from $345.00 to $258.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

MNDY has been the topic of a number of other reports. Wells Fargo & Company set a $365.00 price target on monday.com and gave the stock an “overweight” rating in a research note on Friday, June 13th. Morgan Stanley raised monday.com from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $330.00 to $260.00 in a research note on Tuesday. Citigroup dropped their price target on monday.com from $381.00 to $326.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC dropped their price target on monday.com from $400.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Bank of America dropped their price target on monday.com from $340.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.09.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $172.15 on Tuesday. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 232.64, a P/E/G ratio of 63.01 and a beta of 1.27. The business’s 50-day moving average is $284.40 and its 200-day moving average is $276.13. monday.com has a 1 year low of $171.54 and a 1 year high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 11th. The company reported $1.09 earnings per share 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 business had revenue of $299.01 million for the quarter, compared to the consensus estimate of $293.60 million. During the same period in the prior year, the business earned $0.94 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts anticipate that monday.com will post 0.46 EPS for the current year.

Hedge Funds Weigh In On monday.com

Institutional investors have recently modified their holdings of the business. ASR Vermogensbeheer N.V. bought a new position in shares of monday.com in the first quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in monday.com during the first quarter valued at $25,000. NewEdge Advisors LLC grew its holdings in monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. Grove Bank & Trust bought a new position in monday.com during the first quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in monday.com by 60.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $50,000 after purchasing an additional 60 shares during the period. 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.