monday.com (NASDAQ:MNDY) Price Target Lowered to $105.00 at BTIG Research

monday.com (NASDAQ:MNDY) had its target price dropped by stock analysts at BTIG Research from $115.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 20.91% from the company’s current price.

MNDY has been the topic of several other reports. UBS Group cut their target price on monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Tigress Financial decreased their price target on monday.com to $165.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Piper Sandler increased their price objective on monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, May 11th. TD Cowen raised their price objective on monday.com from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Seventeen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.04.

monday.com Stock Up 5.3%

NASDAQ MNDY opened at $86.84 on Tuesday. The stock has a market capitalization of $4.44 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 4.13 and a beta of 1.26. monday.com has a 12-month low of $57.50 and a 12-month high of $296.93. The company has a 50 day moving average price of $77.91 and a two-hundred day moving average price of $87.51.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The company had revenue of $351.26 million for the quarter. As a group, equities analysts anticipate that monday.com will post 1.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors raised its position in shares of monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after buying an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC grew its position in monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after buying an additional 1,052,900 shares in the last quarter. Norges Bank bought a new position in monday.com during the fourth quarter valued at about $79,789,000. SG Americas Securities LLC increased its stake in monday.com by 110.9% during the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after acquiring an additional 490,491 shares during the period. Finally, Marshall Wace LLP raised its holdings in monday.com by 294.0% in the 3rd quarter. Marshall Wace LLP now owns 405,995 shares of the company’s stock valued at $78,637,000 after acquiring an additional 302,961 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

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.