Citigroup Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price cut by Citigroup from $338.00 to $302.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Barclays increased their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research note on Wednesday. Scotiabank assumed coverage on shares of monday.com in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 price objective on the stock. Finally, KeyCorp downgraded monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.62.

monday.com Stock Up 7.9 %

MNDY opened at $242.49 on Wednesday. The stock has a market cap of $11.71 billion, a PE ratio of 591.44, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. monday.com has a twelve month low of $170.00 and a twelve month high of $324.99. The company has a fifty day moving average of $282.23 and a 200-day moving average of $258.65.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. Sell-side analysts anticipate that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of monday.com in the 3rd quarter worth approximately $1,667,000. International Assets Investment Management LLC purchased a new position in monday.com in the third quarter worth $21,989,000. Taylor Frigon Capital Management LLC purchased a new stake in shares of monday.com during the 3rd quarter valued at $1,311,000. Jennison Associates LLC raised its stake in shares of monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of monday.com by 20.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 72,564 shares of the company’s stock worth $17,471,000 after buying an additional 12,460 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

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.