monday.com (NASDAQ:MNDY) Price Target Cut to $345.00 by Analysts at Piper Sandler

monday.com (NASDAQ:MNDY) had its price target decreased by research analysts at Piper Sandler from $350.00 to $345.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 53.09% from the stock’s previous close.

MNDY has been the topic of a number of other reports. Robert W. Baird lifted their price objective 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. Barclays lifted their price target on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. DA Davidson restated a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research note on Tuesday, November 12th. Oppenheimer raised their price objective on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital dropped their target price on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and a consensus target price of $312.85.

monday.com Trading Down 4.9 %

Shares of NASDAQ MNDY opened at $225.36 on Monday. The company has a fifty day moving average price of $268.46 and a 200 day moving average price of $259.99. The firm has a market cap of $10.88 billion, a PE ratio of 549.66, a PEG ratio of 7.61 and a beta of 1.30. monday.com has a 1-year low of $174.75 and a 1-year high of $324.99.

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

Institutional Trading of monday.com

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after buying an additional 798,791 shares during the last quarter. Jennison Associates LLC grew its position in shares of monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares during the period. Renaissance Technologies LLC lifted its holdings in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after purchasing an additional 170,800 shares during the period. 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.