KeyCorp Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective reduced by analysts at KeyCorp from $270.00 to $220.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 73.05% from the company’s previous close.

A number of other brokerages also recently commented on MNDY. Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a research report on Wednesday, October 8th. DA Davidson reduced their target price on monday.com from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. UBS Group set a $202.00 price target on shares of monday.com in a research note on Tuesday, November 11th. Morgan Stanley dropped their price target on shares of monday.com from $260.00 to $236.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, Canaccord Genuity Group cut their target price on monday.com from $255.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Twenty-one research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and a consensus price target of $252.61.

monday.com Price Performance

NASDAQ:MNDY opened at $127.13 on Thursday. monday.com has a one year low of $123.45 and a one year high of $342.64. The company has a fifty day moving average price of $146.96 and a 200 day moving average price of $190.00. The stock has a market cap of $6.45 billion, a P/E ratio of 103.36, a PEG ratio of 2.92 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.27. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The company had revenue of $316.86 million for the quarter, compared to the consensus estimate of $312.26 million. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue was up 26.3% compared to the same quarter last year. As a group, equities research analysts anticipate that monday.com will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MNDY. Capital World Investors raised its position in shares of monday.com by 231.2% during the third quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after acquiring an additional 1,198,761 shares during the last quarter. Rubicon Global Capital Ltd increased its position in monday.com by 155.3% in the second quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company’s stock worth $453,763,000 after purchasing an additional 877,700 shares during the period. Norges Bank bought a new stake in monday.com during the 2nd quarter worth about $161,114,000. SG Americas Securities LLC lifted its position in monday.com by 110.9% during the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after purchasing an additional 490,491 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in shares of monday.com by 136.5% in the 3rd quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock valued at $137,186,000 after purchasing an additional 408,848 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

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.