monday.com (NASDAQ:MNDY) Stock Rating Lowered by Wall Street Zen

monday.com (NASDAQ:MNDY) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday, Wall Street Zen reports.

Several other analysts also recently commented on the stock. Capital One Financial downgraded shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Monday, August 10th. Wolfe Research cut shares of monday.com from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a research report on Tuesday, September 8th. UBS Group raised 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. Finally, Citigroup cut their price objective on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, monday.com currently has an average rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Trading Down 5.5%

NASDAQ:MNDY opened at $79.05 on Friday. monday.com has a 1 year low of $57.50 and a 1 year high of $210.49. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 1.96 and a beta of 1.15. The stock has a 50-day moving average price of $88.60 and a two-hundred day moving average price of $79.32.

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

Hedge Funds Weigh In On monday.com

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of monday.com by 498.6% in the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 354 shares during the last quarter. Huntington National Bank boosted its holdings in monday.com by 6,040.0% during the fourth quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after purchasing an additional 302 shares during the last quarter. Evanson Financial LLC acquired a new position in monday.com during the second quarter worth $219,000. State of Wyoming grew its position in monday.com by 96.6% in the first quarter. State of Wyoming now owns 3,497 shares of the company’s stock valued at $242,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in monday.com by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock valued at $242,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.