monday.com (NASDAQ:MNDY) Downgraded by KeyCorp to “Sector Weight”

KeyCorp cut shares of monday.com (NASDAQ:MNDY) from an overweight rating to a sector weight rating in a research note issued to investors on Friday, MarketBeat reports.

A number of other research analysts also recently weighed in on MNDY. 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 report on Tuesday, November 12th. TD Cowen boosted their price target on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Piper Sandler upped their price target on monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Barclays raised their price objective on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Tigress Financial upped their target price on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Stock Performance

Shares of MNDY opened at $273.08 on Friday. The company has a market capitalization of $13.18 billion, a PE ratio of 666.05, a PEG ratio of 7.75 and a beta of 1.25. The company’s 50 day moving average price is $285.81 and its 200 day moving average price is $258.11. monday.com has a 52 week low of $170.00 and a 52 week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same quarter last year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 49.5% on a year-over-year basis. On average, equities analysts forecast that monday.com will post 0.85 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. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC acquired a new position in monday.com during the second quarter worth $45,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the period. Toronto Dominion Bank acquired a new stake in shares of monday.com in the 2nd quarter valued at $120,000. Finally, Vestcor Inc grew its holdings in shares of monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after purchasing an additional 124 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

About monday.com

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.