monday.com (NASDAQ:MNDY) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of monday.com (NASDAQ:MNDY) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms also recently weighed in on MNDY. Wells Fargo & Company decreased their price objective on monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Zacks Research cut shares of monday.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 price target on shares of monday.com in a research report on Monday, August 10th. Capital One Financial downgraded shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Monday, August 10th. Finally, BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of monday.com in a research note on Monday, August 10th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $111.70.

monday.com Trading Down 2.6%

NASDAQ:MNDY opened at $103.77 on Friday. The firm has a market cap of $5.31 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The stock has a fifty day moving average price of $90.10 and a 200 day moving average price of $85.01. monday.com has a 12-month low of $57.50 and a 12-month high of $210.49.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Equities analysts forecast that monday.com will post 2.34 EPS for the current year.

Insiders Place Their Bets

In related news, Director Aviad Eyal sold 2,000 shares of monday.com stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the transaction, the director directly owned 203,455 shares in the company, valued at $20,353,638.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently bought and sold shares of MNDY. SEB Asset Management AB acquired a new stake in shares of monday.com during the first quarter worth $1,639,000. Swiss National Bank grew its position in shares of monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after purchasing an additional 35,400 shares during the period. Empowered Funds LLC grew its position in shares of monday.com by 4,194.6% in the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock valued at $997,000 after purchasing an additional 14,094 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of monday.com in the second quarter valued at $970,000. Finally, Arkadios Wealth Advisors acquired a new position in monday.com in the first quarter valued at $1,534,000. 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 a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.