Canaccord Genuity Group Cuts monday.com (NASDAQ:MNDY) Price Target to $220.00

monday.com (NASDAQ:MNDY) had its price objective reduced by Canaccord Genuity Group from $250.00 to $220.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on MNDY. DA Davidson reiterated a neutral rating and issued a $190.00 target price on shares of monday.com in a research note on Tuesday, February 13th. Jefferies Financial Group upgraded shares of monday.com from a hold rating to a buy rating and lifted their target price for the stock from $180.00 to $230.00 in a research note on Friday, January 5th. KeyCorp initiated coverage on shares of monday.com in a research note on Thursday, March 21st. They issued an overweight rating and a $275.00 target price for the company. Citigroup downgraded shares of monday.com from a buy rating to a neutral rating and reduced their target price for the stock from $277.00 to $250.00 in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of monday.com from $230.00 to $270.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $240.00.

monday.com Stock Performance

Shares of MNDY stock opened at $187.25 on Monday. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of -2,674.62 and a beta of 1.18. monday.com has a 52 week low of $108.35 and a 52 week high of $239.22. The firm’s 50-day simple moving average is $213.64 and its two-hundred day simple moving average is $189.42.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. The business had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Analysts forecast that monday.com will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently bought and sold shares of MNDY. Acadian Asset Management LLC lifted its holdings in shares of monday.com by 35.8% in the 3rd quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company’s stock worth $181,124,000 after acquiring an additional 300,011 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of monday.com by 12.1% in the 4th quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock worth $161,573,000 after acquiring an additional 92,600 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of monday.com in the 4th quarter worth approximately $131,086,000. Invesco Ltd. lifted its holdings in shares of monday.com by 331.6% in the 3rd quarter. Invesco Ltd. now owns 629,572 shares of the company’s stock worth $100,240,000 after acquiring an additional 483,709 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in shares of monday.com by 53.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 431,738 shares of the company’s stock worth $68,741,000 after acquiring an additional 149,587 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

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.