monday.com (NASDAQ:MNDY) Cut to Hold at Needham & Company LLC

Needham & Company LLC cut shares of monday.com (NASDAQ:MNDY) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat reports.

MNDY has been the topic of several other research reports. TD Cowen lowered monday.com from a “buy” rating to a “hold” rating and reduced their price target for the stock from $110.00 to $105.00 in a report on Tuesday, November 3rd. 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. JPMorgan Chase & Co. lowered monday.com from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $90.00 to $87.00 in a report on Tuesday, September 29th. Capital One Financial lowered shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Monday, August 10th. Finally, Canaccord Genuity Group downgraded monday.com from a “buy” rating to a “hold” rating and reduced their target price for the stock from $115.00 to $90.00 in a research report on Monday. Nine research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $103.09.

monday.com Trading Up 1.6%

monday.com stock opened at $77.64 on Monday. The firm has a market cap of $3.97 billion, a PE ratio of 26.77, a P/E/G ratio of 1.72 and a beta of 1.06. monday.com has a 12 month low of $57.50 and a 12 month high of $166.29. The stock’s 50 day simple moving average is $89.43 and its two-hundred day simple moving average is $82.30.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 9th. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.73. The firm had revenue of $377.54 million during the quarter, compared to analyst estimates of $369.17 million. monday.com had a net margin of 10.05% and a return on equity of 16.75%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities research analysts forecast that monday.com will post 2.34 EPS for the current year.

Insider Activity at monday.com

In related news, Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 203,455 shares in the company, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 insiders.

Institutional Investors Weigh In On monday.com

Several institutional investors have recently made changes to their positions in MNDY. Renaissance Technologies LLC grew its position in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after acquiring an additional 1,052,900 shares in the last quarter. RPD Fund Management LLC bought a new stake in shares of monday.com during the 1st quarter worth about $17,529,000. Russell Investments Group Ltd. increased its holdings in shares of monday.com by 4,477.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 178,530 shares of the company’s stock valued at $13,946,000 after acquiring an additional 174,630 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of monday.com during the 2nd quarter valued at about $5,098,000. Finally, Bank of America Corp DE increased its holdings in shares of monday.com by 33.6% during the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock valued at $13,451,000 after acquiring an additional 49,002 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Key monday.com News

These are some of the MNDY news items that stood out recently:

• Positive Sentiment: Third-quarter earnings beat estimates, with cost reductions lifting the non-GAAP operating margin to a record 24%. The company also reported year-over-year revenue growth. MNDY Q3 Earnings Beat Estimates on Cost Cuts, Revenues Rise Y/Y
• Positive Sentiment: Management is pursuing AI monetization and larger enterprise customers, which could support longer-term growth, though the shift is creating near-term challenges. MNDY Q3 Earnings Call Highlights AI Shift and Growth Pressures
• Negative Sentiment: Analysts lowered price targets, including UBS, JPMorgan, Morgan Stanley, Wells Fargo, and Barclays. Needham cut its rating to Hold, citing disappointing results; Canaccord also downgraded the shares, while Loop Capital reduced its target. Though ratings remain mixed, the cuts signal reduced confidence in near-term prospects. Needham Downgrades monday.com to Hold Canaccord Downgrade

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017. Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting. Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.