monday.com (NASDAQ:MNDY) Price Target Cut to $290.00 by Analysts at TD Cowen

monday.com (NASDAQ:MNDY) had its price objective trimmed by TD Cowen from $360.00 to $290.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on MNDY. Robert W. Baird lowered their price objective on monday.com from $310.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday. Jefferies Financial Group reissued a “buy” rating and set a $330.00 price target (down from $360.00) on shares of monday.com in a report on Monday. KeyCorp reissued an “overweight” rating and set a $330.00 price target on shares of monday.com in a report on Monday. Loop Capital lowered their price target on monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank increased their price target on monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $311.09.

monday.com Trading Down 1.1%

MNDY stock opened at $172.15 on Tuesday. The stock has a market capitalization of $8.74 billion, a PE ratio of 232.64, a price-to-earnings-growth ratio of 63.01 and a beta of 1.27. monday.com has a 12-month low of $171.54 and a 12-month high of $342.64. The stock’s 50 day simple moving average is $284.40 and its 200 day simple moving average is $276.13.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.25. The business had revenue of $299.01 million for the quarter, compared to analysts’ expectations of $293.60 million. monday.com had a return on equity of 6.56% and a net margin of 3.63%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. On average, research analysts predict that monday.com will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ASR Vermogensbeheer N.V. purchased a new position in shares of monday.com during the first quarter valued at about $25,000. Summit Securities Group LLC purchased a new position in shares of monday.com during the first quarter valued at about $25,000. NewEdge Advisors LLC grew its position in shares of 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 in the last quarter. Grove Bank & Trust purchased a new position in shares of monday.com during the first quarter valued at about $30,000. Finally, First Horizon Advisors Inc. grew its position in shares of monday.com by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company’s stock valued at $40,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.