Loop Capital Cuts monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price objective cut by Loop Capital from $310.00 to $300.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on MNDY. Piper Sandler restated an “overweight” rating and set a $350.00 price target on shares of monday.com in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen raised their target price on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. KeyCorp lowered shares of monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, Scotiabank initiated coverage on shares of monday.com in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 price objective for the company. 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 MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.14.

monday.com Stock Up 1.3 %

Shares of NASDAQ MNDY opened at $234.80 on Monday. monday.com has a 12 month low of $170.00 and a 12 month high of $324.99. The company has a market cap of $11.34 billion, a P/E ratio of 572.68, a P/E/G ratio of 7.61 and a beta of 1.25. The business’s 50 day moving average is $279.03 and its two-hundred day moving average is $259.23.

monday.com (NASDAQ:MNDY) last announced its 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 business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com’s revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Sell-side analysts expect that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. acquired a new position in monday.com during the 3rd quarter worth about $43,000. Ridgewood Investments LLC acquired a new position in shares of monday.com during the second quarter worth approximately $45,000. Toronto Dominion Bank bought a new stake in shares of monday.com during the second quarter valued at approximately $120,000. Vestcor Inc increased its holdings in shares of monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in monday.com by 645.7% in the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after purchasing an additional 523 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Company Profile

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.