monday.com (NASDAQ:MNDY) Stock Price Target Cut by Morgan Stanley

monday.com (NASDAQ:MNDY) had its price objective lowered by equities researchers at Morgan Stanley from $115.00 to $109.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 40.79% from the company’s previous close.

A number of other analysts have also recently weighed in on MNDY. JPMorgan Chase & Co. cut shares of monday.com from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $87.00 in a research report on Tuesday, September 29th. Canaccord Genuity Group lowered monday.com from a “buy” rating to a “hold” rating and cut their price objective for the company from $115.00 to $90.00 in a research report on Monday. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of monday.com in a research note on Tuesday, November 3rd. Wolfe Research cut monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Finally, BTIG Research decreased their target price on monday.com from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, monday.com has a consensus rating of “Hold” and a consensus price target of $103.65.

monday.com Price Performance

NASDAQ MNDY traded down $2.51 during mid-day trading on Tuesday, hitting $77.42. The company’s stock had a trading volume of 482,391 shares, compared to its average volume of 1,754,706. monday.com has a 52-week low of $57.50 and a 52-week high of $169.76. The stock’s fifty day simple moving average is $90.30 and its two-hundred day simple moving average is $82.81. The firm has a market capitalization of $3.96 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 2.18 and a beta of 1.06.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 9th. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.73. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $377.54 million during the quarter, compared to the consensus estimate of $369.17 million. During the same period in the previous year, the firm earned $1.16 earnings per share. monday.com’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities analysts forecast that monday.com will post 2.34 earnings per share for the current fiscal year.

Insider Activity at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the transaction, the director owned 203,455 shares in the company, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SEB Asset Management AB bought a new stake in monday.com during the first quarter worth approximately $1,639,000. Swiss National Bank raised its position in shares of monday.com by 28.6% in the first 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. Empowered Funds LLC raised its position in shares of monday.com by 4,194.6% in the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock valued at $997,000 after purchasing an additional 14,094 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of monday.com in the second quarter worth $970,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of monday.com in the first quarter worth $1,534,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Key Headlines Impacting monday.com

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

• Positive Sentiment: Q3 revenue rose 19.1% year over year to about $378 million, topping estimates, while earnings of $2.14 per share also exceeded consensus. Cost reductions lifted non-GAAP operating margin to a record 24%, and AI-feature annual recurring revenue reached $36 million. Article: MNDY Q3 Earnings Beat Estimates on Cost Cuts, Revenues Rise Y/Y
• Neutral Sentiment: Wells Fargo maintained an Overweight rating while reducing its price target to $100 from $120. BTIG also kept a Buy rating but lowered its target to $100 from $105. Article: monday.com price-target update
• Negative Sentiment: Q4 revenue guidance of $380–$382 million came in below the roughly $385.5 million analyst consensus. Reports cited softer demand, longer enterprise sales cycles and slowing growth, overshadowing the quarterly beat. Full-year revenue guidance of about $1.5 billion was broadly in line with expectations. Article: Monday.com falls despite Q3 beat, sees near-term operational headwinds
• Negative Sentiment: Analyst sentiment turned more cautious: Needham and Canaccord downgraded MNDY from Buy to Hold, and several firms lowered price targets. Barclays cut its target to $91 from $100 and maintained Equal Weight; Loop Capital lowered its target to $90 from $100 and kept Hold. Article: Needham Downgrades monday.com to Hold From Buy

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017.

Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting.

Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.