monday.com (NASDAQ:MNDY) Price Target Cut to $345.00 by Analysts at Piper Sandler

monday.com (NASDAQ:MNDY) had its price target decreased by investment analysts at Piper Sandler from $350.00 to $345.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 46.65% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Robert W. Baird lifted their target price on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group boosted their price objective on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Citigroup reduced their target price on shares of monday.com from $338.00 to $302.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Capital One Financial started coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target for the company. Finally, Oppenheimer raised their price objective on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.85.

monday.com Stock Performance

Shares of MNDY stock opened at $235.25 on Monday. monday.com has a 52 week low of $170.00 and a 52 week high of $324.99. The stock has a market capitalization of $11.36 billion, a PE ratio of 573.78, a PEG ratio of 7.61 and a beta of 1.25. The stock’s fifty day moving average is $271.21 and its 200-day moving average is $259.85.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 49.5% on a year-over-year basis. As a group, analysts forecast that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of monday.com during the 3rd quarter worth about $43,000. Toronto Dominion Bank acquired a new stake in monday.com during the second quarter worth approximately $120,000. Vestcor Inc boosted its holdings in shares of monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after acquiring an additional 124 shares during the period. Larson Financial Group LLC grew its position in shares of monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its stake in shares of monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.