DA Davidson Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price target decreased by DA Davidson from $250.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 53.06% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. UBS Group cut their target price on shares of monday.com from $200.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. KeyCorp lowered their price objective on shares of monday.com from $270.00 to $220.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Jefferies Financial Group dropped their price objective on monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Guggenheim reissued a “buy” rating on shares of monday.com in a research note on Friday, January 16th. Finally, Cantor Fitzgerald lowered their price target on monday.com from $215.00 to $148.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, monday.com currently has an average rating of “Moderate Buy” and a consensus price target of $229.87.

monday.com Trading Up 3.6%

NASDAQ:MNDY opened at $98.00 on Friday. monday.com has a 1-year low of $92.73 and a 1-year high of $342.64. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 79.67, a PEG ratio of 2.22 and a beta of 1.25. The business’s 50-day moving average price is $138.72 and its two-hundred day moving average price is $175.01.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.27. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. During the same period in the prior year, the business posted $0.85 EPS. monday.com’s revenue was up 26.3% on a year-over-year basis. Sell-side analysts predict that monday.com will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MNDY. WCM Investment Management LLC lifted its stake in monday.com by 2.8% in the 3rd quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock valued at $843,519,000 after acquiring an additional 115,353 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of monday.com by 9.0% in the second quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock valued at $576,442,000 after purchasing an additional 150,987 shares during the last quarter. Capital World Investors lifted its position in shares of monday.com by 231.2% in the third quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after purchasing an additional 1,198,761 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of monday.com by 110.9% in the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock worth $137,660,000 after purchasing an additional 490,491 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in monday.com by 2.2% during the fourth quarter. Baillie Gifford & Co. now owns 723,655 shares of the company’s stock worth $106,783,000 after purchasing an additional 15,377 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.