monday.com (NASDAQ:MNDY) Stock Bumped Down to Hold by Zacks Research

Zacks Research lowered shares of monday.com (NASDAQ:MNDY) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks reports.

A number of other equities analysts have also recently commented on MNDY. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of monday.com in a research report on Tuesday, August 11th. Capital One Financial lowered 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. Wolfe Research cut monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Wells Fargo & Company decreased their price objective on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, Wall Street Zen raised monday.com from a “hold” rating to a “buy” rating in a research note on Monday, October 5th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $111.70.

monday.com Stock Performance

MNDY traded down $3.93 during midday trading on Thursday, hitting $90.37. The stock had a trading volume of 1,166,192 shares, compared to its average volume of 1,064,992. The company has a market cap of $4.62 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14. The business has a fifty day moving average of $88.56 and a 200 day moving average of $80.40. monday.com has a 1 year low of $57.50 and a 1 year high of $210.49.

monday.com (NASDAQ:MNDY) last posted 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. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that monday.com will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 1,052,900 shares during the last quarter. RPD Fund Management LLC bought a new stake in shares of monday.com in the first quarter worth about $17,529,000. Bank of America Corp DE grew its stake in shares of monday.com by 33.6% in the first quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock worth $13,451,000 after purchasing an additional 49,002 shares during the last quarter. Swiss National Bank increased its holdings in monday.com by 28.6% during the 1st 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. Finally, Ardmore Road Asset Management LP increased its holdings in monday.com by 18.1% during the 1st quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company’s stock valued at $8,203,000 after purchasing an additional 18,234 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.