monday.com (NASDAQ:MNDY) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of monday.com (NASDAQ:MNDY) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

MNDY has been the subject of a number of other reports. Citigroup dropped their price objective on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. UBS Group boosted their price target on monday.com from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Wells Fargo & Company dropped their price target on monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. BTIG Research restated a “buy” rating and issued a $105.00 price objective on shares of monday.com in a report on Monday, August 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of monday.com in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, monday.com has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Stock Performance

MNDY opened at $83.66 on Friday. monday.com has a 1 year low of $57.50 and a 1 year high of $210.49. The company’s 50 day simple moving average is $88.55 and its 200 day simple moving average is $79.31. The stock has a market capitalization of $4.28 billion, a PE ratio of 35.60, a P/E/G ratio of 1.96 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.11 by $0.37. The firm had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. monday.com’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. As a group, sell-side analysts expect that monday.com will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently modified their holdings of MNDY. SEB Asset Management AB purchased a new position in monday.com in the 1st quarter worth approximately $1,639,000. Swiss National Bank increased its stake in monday.com by 28.6% during the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after buying an additional 35,400 shares during the period. Empowered Funds LLC lifted its holdings in monday.com by 4,194.6% in the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after buying an additional 14,094 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in monday.com in the 1st quarter worth $1,534,000. Finally, Royal Bank of Canada boosted its position in monday.com by 88.7% in the 1st quarter. Royal Bank of Canada now owns 30,422 shares of the company’s stock valued at $2,102,000 after buying an additional 14,300 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.