Scotiabank Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective reduced by Scotiabank from $325.00 to $300.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other equities analysts have also recently commented on MNDY. William Blair restated an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Piper Sandler decreased their price objective on shares of monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. KeyCorp lowered shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $302.00 to $298.00 in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.48.

monday.com Trading Up 0.6 %

Shares of monday.com stock opened at $242.05 on Thursday. The company’s 50-day moving average price is $256.02 and its 200-day moving average price is $259.53. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 590.37, a PEG ratio of 5.41 and a beta of 1.30. monday.com has a 12-month low of $174.75 and a 12-month high of $324.99.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in monday.com by 1,024.7% during the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after buying an additional 434,035 shares during the last quarter. Legal Advantage Investments Inc. purchased a new position in shares of monday.com in the fourth quarter valued at about $235,000. Oak Ridge Investments LLC bought a new position in shares of monday.com during the fourth quarter valued at about $633,000. Channel Wealth LLC purchased a new stake in shares of monday.com during the fourth quarter worth about $986,000. Finally, Park Avenue Securities LLC bought a new stake in shares of monday.com in the fourth quarter worth about $241,000. Institutional investors 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.