monday.com (NASDAQ:MNDY) Cut to “Sector Weight” at KeyCorp

KeyCorp downgraded shares of monday.com (NASDAQ:MNDY) from an overweight rating to a sector weight rating in a report published on Friday, MarketBeat.com reports.

Several other analysts have also recently issued reports on MNDY. Tigress Financial increased their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup increased their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Loop Capital raised their target price on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group boosted their price target on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Trading Down 3.2 %

Shares of NASDAQ MNDY opened at $273.08 on Friday. The stock has a market capitalization of $13.18 billion, a PE ratio of 666.05, a PEG ratio of 7.75 and a beta of 1.25. monday.com has a twelve month low of $170.00 and a twelve month high of $324.99. The stock has a fifty day simple moving average of $285.81 and a 200-day simple moving average of $258.36.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com’s revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. On average, equities analysts predict that monday.com will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently modified their holdings of MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new position in monday.com during the 3rd quarter worth $43,000. Ridgewood Investments LLC purchased a new position in shares of monday.com during the second quarter worth about $45,000. Gilliland Jeter Wealth Management LLC increased its position in monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the period. Toronto Dominion Bank purchased a new stake in monday.com during the 2nd quarter valued at approximately $120,000. Finally, Vestcor Inc lifted its position in monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after acquiring an additional 124 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

About monday.com

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.