monday.com (NASDAQ:MNDY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a buy rating in a research note published on Sunday,Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Barclays cut shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 target price on the stock. in a report on Monday, October 12th. Jefferies Financial Group restated a “hold” rating and issued a $95.00 price target on shares of monday.com in a research report on Monday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of monday.com in a report on Tuesday, October 27th. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price objective on shares of monday.com in a research report on Thursday, October 29th. Finally, Wells Fargo & Company dropped their price objective on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, monday.com presently has a consensus rating of “Hold” and a consensus target price of $107.35.

monday.com Stock Down 1.8%

NASDAQ:MNDY opened at $93.59 on Friday. The company has a market cap of $4.79 billion, a PE ratio of 39.83, a P/E/G ratio of 2.15 and a beta of 1.06. The business’s 50 day moving average is $90.86 and its two-hundred day moving average is $83.59. monday.com has a 52 week low of $57.50 and a 52 week high of $200.62.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The business 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 business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. As a group, sell-side analysts expect that monday.com will post 2.34 EPS for the current fiscal year.

Insider Transactions at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the sale, the director directly owned 203,455 shares in the company, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company’s stock.

Institutional Trading of monday.com

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of monday.com by 498.6% during the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after buying an additional 354 shares during the period. Oppenheimer & Co. Inc. bought a new position in monday.com in the 3rd quarter worth approximately $201,000. Quadrant Capital Group LLC bought a new position in monday.com in the 3rd quarter worth approximately $235,000. Evanson Financial LLC bought a new position in monday.com in the 2nd quarter worth approximately $219,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com in the 3rd quarter valued at approximately $240,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Key monday.com News

Here are the key news stories impacting monday.com this week:

• Positive Sentiment: Guggenheim reaffirmed its Buy rating and set a $130 price target, indicating substantial potential upside from the recent share price. Guggenheim rating
• Negative Sentiment: TD Cowen downgraded MNDY from Buy to Hold and lowered its price target to $105 from $110. The cautious stance ahead of Q3 results likely weighed on sentiment. TD Cowen downgrade
• Negative Sentiment: The stock declined even as the broader market rose, reflecting near-term selling pressure. The downgrade and upcoming earnings appear to be the most relevant catalysts in the provided coverage. monday.com drops after downgrade

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.