Wells Fargo & Company Cuts monday.com (NASDAQ:MNDY) Price Target to $120.00

monday.com (NASDAQ:MNDY) had its price objective trimmed by Wells Fargo & Company from $130.00 to $120.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on MNDY. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Tigress Financial cut their price objective on shares of monday.com to $165.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. UBS Group reduced their price objective on shares of monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Zacks Research lowered shares of monday.com from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $95.00 target price on shares of monday.com in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.91.

monday.com Stock Up 9.7%

monday.com stock opened at $94.29 on Tuesday. The business’s 50-day simple moving average is $80.67 and its 200 day simple moving average is $78.52. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 40.12, a P/E/G ratio of 2.17 and a beta of 1.24. monday.com has a 12-month low of $57.50 and a 12-month high of $220.80.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 8.10% and a net margin of 8.87%.The firm had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. During the same period in the previous year, the business posted $1.09 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts expect that monday.com will post 2.09 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in shares of monday.com by 8.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,792 shares of the company’s stock worth $264,000 after purchasing an additional 140 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of monday.com during the third quarter worth $28,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of monday.com by 6.2% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 2,635 shares of the company’s stock valued at $389,000 after buying an additional 155 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.