BTIG Research Lowers monday.com (NASDAQ:MNDY) Price Target to $105.00

monday.com (NASDAQ:MNDY) had its target price decreased by research analysts at BTIG Research from $115.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 20.91% from the company’s current price.

A number of other equities research analysts also recently commented on the company. TD Cowen increased their price objective on monday.com from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Citigroup cut their target price on monday.com from $176.00 to $154.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Barclays upped their target price on monday.com from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Guggenheim set a $130.00 price target on monday.com and gave the company a “buy” rating in a research report on Thursday, April 9th. Finally, Piper Sandler boosted their price objective on monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.04.

monday.com Trading Up 5.3%

Shares of monday.com stock opened at $86.84 on Tuesday. The company’s 50-day moving average price is $77.91 and its two-hundred day moving average price is $87.51. monday.com has a 52 week low of $57.50 and a 52 week high of $296.93. The stock has a market cap of $4.44 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The company had revenue of $351.26 million during the quarter. On average, equities analysts predict that monday.com will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in shares of monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after acquiring an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC boosted its position in monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. Norges Bank purchased a new position in monday.com in the fourth quarter valued at about $79,789,000. SG Americas Securities LLC grew its stake in monday.com by 110.9% in the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after purchasing an additional 490,491 shares in the last quarter. Finally, Marshall Wace LLP increased its position in monday.com by 294.0% in the 3rd quarter. Marshall Wace LLP now owns 405,995 shares of the company’s stock worth $78,637,000 after purchasing an additional 302,961 shares during the last quarter. Hedge funds and other 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.