Citigroup Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective decreased by investment analysts at Citigroup from $338.00 to $302.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 25.81% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird upped their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. KeyCorp cut monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. William Blair restated an “outperform” rating on shares of monday.com in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Loop Capital increased their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Six investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $309.62.

monday.com Stock Down 4.7 %

Shares of MNDY traded down $11.75 during mid-day trading on Wednesday, hitting $240.05. The stock had a trading volume of 722,693 shares, compared to its average volume of 731,604. monday.com has a fifty-two week low of $170.00 and a fifty-two week high of $324.99. The company’s fifty day simple moving average is $285.29 and its two-hundred day simple moving average is $258.89. The company has a market cap of $11.59 billion, a PE ratio of 585.49, a PEG ratio of 7.75 and a beta of 1.25.

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

Hedge Funds Weigh In On monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in monday.com by 14.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,606 shares of the company’s stock worth $15,555,000 after buying an additional 8,106 shares during the period. Raymond James & Associates grew its position in shares of monday.com by 9.8% in the 2nd quarter. Raymond James & Associates now owns 31,845 shares of the company’s stock valued at $7,667,000 after purchasing an additional 2,850 shares during the period. Gilliland Jeter Wealth Management LLC increased its stake in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares in the last quarter. McAdam LLC acquired a new position in shares of monday.com in the second quarter valued at approximately $611,000. Finally, Bank of New York Mellon Corp increased its position in shares of monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after acquiring an additional 172,919 shares in the last quarter. 73.70% of the stock is 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.