monday.com (NASDAQ:MNDY) Lowered to “Sector Weight” Rating by KeyCorp

KeyCorp downgraded shares of monday.com (NASDAQ:MNDY) from an overweight rating to a sector weight rating in a report issued on Friday morning, Marketbeat Ratings reports.

A number of other analysts also recently commented on MNDY. DA Davidson reiterated a “neutral” rating and set a $300.00 target price on shares of monday.com in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. TD Cowen raised their target price on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Oppenheimer upped their price target on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird raised their price objective on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Trading Down 3.2 %

Shares of MNDY opened at $273.08 on Friday. The stock’s 50 day moving average is $285.81 and its two-hundred day moving average is $258.36. monday.com has a twelve month low of $170.00 and a twelve month high of $324.99. The firm has a market capitalization of $13.18 billion, a PE ratio of 666.05, a P/E/G ratio of 7.75 and a beta of 1.25.

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

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new stake in shares of monday.com during the 1st quarter worth about $264,000. Blue Trust Inc. grew its stake in monday.com by 10,650.0% during the second quarter. Blue Trust Inc. now owns 645 shares of the company’s stock worth $146,000 after buying an additional 639 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of monday.com by 14.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,606 shares of the company’s stock worth $15,555,000 after acquiring an additional 8,106 shares in the last quarter. Raymond James & Associates raised its stake in shares of monday.com by 9.8% in the 2nd quarter. Raymond James & Associates now owns 31,845 shares of the company’s stock valued at $7,667,000 after acquiring an additional 2,850 shares during the period. Finally, Washington Capital Management Inc. lifted its holdings in shares of monday.com by 23.8% during the 2nd quarter. Washington Capital Management Inc. now owns 2,600 shares of the company’s stock valued at $626,000 after acquiring an additional 500 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.