Scotiabank Cuts monday.com (NASDAQ:MNDY) Price Target to $315.00

monday.com (NASDAQ:MNDY) had its price objective cut by analysts at Scotiabank from $400.00 to $315.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 19.71% from the stock’s current price.

Several other equities analysts also recently commented on the stock. KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price on the stock in a research report on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Robert W. Baird lifted their price target on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Tigress Financial upped their price objective on shares of monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their target price on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.45.

monday.com Price Performance

MNDY traded up $7.26 during trading on Monday, reaching $263.13. 253,362 shares of the stock traded hands, compared to its average volume of 764,042. monday.com has a fifty-two week low of $174.75 and a fifty-two week high of $342.64. The stock’s 50-day simple moving average is $265.97 and its two-hundred day simple moving average is $269.63. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 439.72, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. Research analysts anticipate that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of monday.com by 3.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock valued at $18,525,000 after purchasing an additional 2,085 shares in the last quarter. CIBC Asset Management Inc boosted its position in monday.com by 6.1% in the third quarter. CIBC Asset Management Inc now owns 3,512 shares of the company’s stock valued at $976,000 after buying an additional 202 shares in the last quarter. Natixis Advisors LLC grew its stake in monday.com by 11.9% during the third quarter. Natixis Advisors LLC now owns 60,834 shares of the company’s stock worth $16,898,000 after buying an additional 6,488 shares during the last quarter. Swiss National Bank increased its holdings in shares of monday.com by 2.2% during the third quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $30,944,000 after buying an additional 2,400 shares in the last quarter. Finally, LMR Partners LLP raised its stake in shares of monday.com by 11.8% in the third quarter. LMR Partners LLP now owns 55,912 shares of the company’s stock valued at $15,531,000 after acquiring an additional 5,912 shares during the last quarter. 73.70% of the stock is currently 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.