monday.com (NASDAQ:MNDY) Price Target Cut to $302.00 by Analysts at Citigroup

monday.com (NASDAQ:MNDY) had its target price lowered by investment analysts at Citigroup from $338.00 to $302.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 25.81% from the company’s previous close.

A number of other research firms have also weighed in on MNDY. Canaccord Genuity Group lifted their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Scotiabank started coverage on shares of monday.com in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 target price on the stock. Oppenheimer upped their price target on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson restated a “neutral” rating and issued a $300.00 price target on shares of monday.com in a research report on Tuesday, November 12th. Finally, Tigress Financial boosted their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $309.62.

monday.com Trading Down 4.7 %

Shares of MNDY stock traded down $11.75 on Wednesday, reaching $240.05. 722,693 shares of the stock were exchanged, compared to its average volume of 731,604. The business’s 50 day moving average price is $285.29 and its 200 day moving average price is $258.89. monday.com has a twelve month low of $170.00 and a twelve month high of $324.99. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 585.49, a PEG ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business’s revenue was up 49.5% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. Equities research analysts forecast that monday.com will post 0.85 earnings per share for the current year.

Institutional Trading of monday.com

A number of hedge funds have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com during the 3rd quarter valued at $43,000. Ridgewood Investments LLC purchased a new position in monday.com in the 2nd quarter valued at about $45,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of monday.com during the second quarter worth about $120,000. Finally, Vestcor Inc lifted its stake in shares of monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.