Loop Capital Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price lowered by stock analysts at Loop Capital from $310.00 to $300.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 27.77% from the company’s previous close.

Other analysts also recently issued reports about the stock. Oppenheimer lifted their price objective on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. William Blair reiterated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Barclays boosted their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Needham & Company LLC increased their price objective on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their target price on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Six 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. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and an average price target of $309.14.

monday.com Stock Up 1.3 %

Shares of NASDAQ:MNDY opened at $234.80 on Monday. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 572.68, a PEG ratio of 7.61 and a beta of 1.25. monday.com has a 12 month low of $170.00 and a 12 month high of $324.99. The company’s fifty day simple moving average is $281.04 and its 200 day simple moving average is $259.32.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after acquiring an additional 798,791 shares during the period. Renaissance Technologies LLC raised its stake in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Jennison Associates LLC boosted its holdings in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the period. 1832 Asset Management L.P. grew its position in shares of monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after purchasing an additional 170,800 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after purchasing an additional 14,304 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

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.