monday.com (NASDAQ:MNDY) Price Target Lowered to $230.00 at Citigroup

monday.com (NASDAQ:MNDY) had its target price lowered by Citigroup from $293.00 to $230.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. DA Davidson dropped their price objective on monday.com from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Jefferies Financial Group lowered their price target on monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Guggenheim reiterated a “buy” rating on shares of monday.com in a research report on Friday, January 16th. Wells Fargo & Company cut their price objective on monday.com from $260.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Piper Sandler lowered their target price on shares of monday.com from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Twenty-one research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.22.

monday.com Trading Down 1.6%

Shares of NASDAQ:MNDY opened at $112.89 on Monday. The company has a 50 day moving average of $142.38 and a 200 day moving average of $179.51. The stock has a market cap of $5.73 billion, a P/E ratio of 91.78, a P/E/G ratio of 2.59 and a beta of 1.26. monday.com has a 12 month low of $112.50 and a 12 month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.27. The business had revenue of $316.86 million for the quarter, compared to analysts’ expectations of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. On average, equities analysts forecast that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Danske Bank A S raised its stake in shares of monday.com by 5.5% during the fourth quarter. Danske Bank A S now owns 7,700 shares of the company’s stock worth $1,136,000 after acquiring an additional 400 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of monday.com by 25.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 1,519 shares of the company’s stock valued at $224,000 after purchasing an additional 305 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of monday.com by 6.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 19,791 shares of the company’s stock valued at $2,920,000 after purchasing an additional 1,200 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in monday.com by 11.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,575 shares of the company’s stock worth $3,036,000 after purchasing an additional 2,078 shares during the period. Finally, Washington Capital Management Inc. bought a new stake in monday.com in the fourth quarter worth $546,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.