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

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

A number of other research firms also recently issued reports on MNDY. William Blair restated an “outperform” rating on shares of monday.com in a research report on Wednesday. Barclays upped their target price on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group raised their price objective on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Scotiabank assumed coverage on shares of monday.com in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 target price for the company. Finally, Robert W. Baird raised their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.62.

monday.com Stock Performance

monday.com stock opened at $231.99 on Wednesday. The business’s 50-day simple moving average is $284.33 and its two-hundred day simple moving average is $258.70. The company has a market cap of $11.20 billion, a PE ratio of 565.83, a PEG ratio of 7.75 and a beta of 1.25. monday.com has a fifty-two week low of $170.00 and a fifty-two week high of $324.99.

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

Hedge Funds Weigh In On monday.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares during the period. Jennison Associates LLC grew its position in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after acquiring an additional 318,837 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in monday.com by 431.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after buying an additional 313,279 shares during the period. Renaissance Technologies LLC raised its position in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of monday.com by 171.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after purchasing an additional 172,919 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.