monday.com (NASDAQ:MNDY) Cut to Hold at Zacks Research

Zacks Research downgraded shares of monday.com (NASDAQ:MNDY) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on MNDY. JPMorgan Chase & Co. cut their target price on monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Cantor Fitzgerald dropped their price objective on monday.com from $148.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Morgan Stanley cut their price objective on monday.com from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 27th. UBS Group decreased their target price on monday.com from $140.00 to $93.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Finally, Tigress Financial upped their price target on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $155.38.

monday.com Stock Up 0.3%

MNDY stock opened at $78.70 on Wednesday. monday.com has a twelve month low of $68.68 and a twelve month high of $316.98. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. The firm’s fifty day simple moving average is $107.87 and its two-hundred day simple moving average is $152.64.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. The firm had revenue of $333.88 million during the quarter, compared to analyst estimates of $329.71 million. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $1.08 EPS. As a group, equities research analysts expect that monday.com will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MNDY. NewEdge Advisors LLC lifted its position in shares of monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Atria Investments Inc increased its holdings in monday.com by 21.6% during the second quarter. Atria Investments Inc now owns 3,611 shares of the company’s stock valued at $1,136,000 after buying an additional 641 shares during the period. Bank of Montreal Can raised its stake in monday.com by 10.1% in the second quarter. Bank of Montreal Can now owns 23,851 shares of the company’s stock worth $7,501,000 after buying an additional 2,188 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in monday.com by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 245,508 shares of the company’s stock worth $77,207,000 after buying an additional 3,844 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in monday.com by 40.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 233 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.