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 research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 target price on shares of monday.com in a research report on Monday, August 10th. Barclays lifted their price target on shares of monday.com from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. UBS Group upped their price objective on shares of monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Wolfe Research lowered shares of monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer set a $115.00 target price on shares of monday.com in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus target price of $117.91.

monday.com Price Performance

NASDAQ MNDY opened at $91.07 on Friday. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $220.80. The stock’s 50-day moving average is $86.28 and its two-hundred day moving average is $77.95. The firm has a market cap of $4.66 billion, a P/E ratio of 38.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SEB Asset Management AB bought a new position in monday.com in the first quarter worth $1,639,000. Swiss National Bank increased its holdings in monday.com by 28.6% in the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after buying an additional 35,400 shares during the period. NewEdge Wealth LLC bought a new stake in monday.com in the 4th quarter valued at $5,635,000. Empowered Funds LLC raised its stake in shares of monday.com by 4,194.6% in the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock valued at $997,000 after buying an additional 14,094 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of monday.com in the 1st quarter valued at $1,534,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

About monday.com

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.