monday.com (NASDAQ:MNDY) Stock Rating Lowered by Zacks Research

monday.com (NASDAQ:MNDY) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Guggenheim decreased their price objective on monday.com from $250.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Bank of America decreased their target price on monday.com from $157.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Tigress Financial increased their price target on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Cantor Fitzgerald decreased their price objective on shares of monday.com from $148.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Finally, Oppenheimer lowered their target price on shares of monday.com from $200.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $155.38.

monday.com Stock Up 3.2%

monday.com stock opened at $78.48 on Wednesday. The business’s 50-day simple moving average is $109.21 and its 200 day simple moving average is $153.33. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 1.41 and a beta of 1.31. monday.com has a 12-month low of $68.68 and a 12-month high of $316.98.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. The company had revenue of $333.88 million for the quarter, compared to analyst estimates of $329.71 million. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. As a group, sell-side analysts expect that monday.com will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC raised its holdings in monday.com by 2.8% during the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock worth $843,519,000 after acquiring an additional 115,353 shares in the last quarter. Ibex Investors LLC bought a new position in monday.com in the third quarter valued at approximately $34,864,000. Baillie Gifford & Co. increased its position in shares of monday.com by 136.5% during the 3rd quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock worth $137,186,000 after purchasing an additional 408,848 shares during the last quarter. TenCore Partners LP raised its stake in shares of monday.com by 42.2% during the 3rd quarter. TenCore Partners LP now owns 141,390 shares of the company’s stock worth $27,386,000 after purchasing an additional 41,935 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of monday.com by 17.9% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 79,009 shares of the company’s stock valued at $15,303,000 after buying an additional 12,000 shares during the last quarter. Institutional investors and hedge funds 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.