monday.com (NASDAQ:MNDY) Given New $270.00 Price Target at KeyCorp

monday.com (NASDAQ:MNDY) had its price target dropped by research analysts at KeyCorp from $280.00 to $270.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 10.97% from the company’s previous close.

MNDY has been the subject of several other research reports. Barclays assumed coverage on shares of monday.com in a research report on Wednesday, June 26th. They set an “overweight” rating and a $275.00 target price on the stock. Canaccord Genuity Group lifted their price target on shares of monday.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of monday.com in a research note on Monday, June 17th. JPMorgan Chase & Co. upped their price target on shares of monday.com from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, William Blair reiterated an “outperform” rating on shares of monday.com in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $253.24.

monday.com Stock Performance

MNDY stock opened at $243.31 on Tuesday. The company has a market capitalization of $11.75 billion, a PE ratio of 640.29, a price-to-earnings-growth ratio of 48.15 and a beta of 1.30. The company’s 50-day simple moving average is $217.91 and its 200 day simple moving average is $210.92. monday.com has a 52 week low of $122.13 and a 52 week high of $249.00.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.25. The company had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. monday.com had a net margin of 2.53% and a return on equity of 2.42%. On average, analysts forecast that monday.com will post 0.12 EPS for the current year.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently made changes to their positions in the stock. Raymond James & Associates raised its position in monday.com by 55.2% in the 4th quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock valued at $2,352,000 after purchasing an additional 4,457 shares during the last quarter. International Assets Investment Management LLC acquired a new position in monday.com during the fourth quarter worth about $25,925,000. M&G Investment Management Ltd. lifted its holdings in monday.com by 8.5% in the 4th quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company’s stock valued at $9,089,000 after purchasing an additional 3,796 shares in the last quarter. Boulder Hill Capital Management LP acquired a new stake in shares of monday.com during the 4th quarter worth about $2,197,000. Finally, Trexquant Investment LP boosted its position in shares of monday.com by 107.5% in the fourth quarter. Trexquant Investment LP now owns 61,096 shares of the company’s stock worth $11,474,000 after acquiring an additional 31,656 shares during the last quarter. 73.70% of the stock is currently 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.