Scotiabank Cuts monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price target lowered by Scotiabank from $325.00 to $300.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

A number of other research firms have also weighed in on MNDY. Robert W. Baird raised their price objective on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Oppenheimer lifted their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. DA Davidson reaffirmed a “neutral” rating and set a $300.00 target price on shares of monday.com in a research report on Tuesday, November 12th. Finally, Capital One Financial started coverage on monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.48.

monday.com Price Performance

Shares of monday.com stock opened at $242.05 on Thursday. The business has a 50-day simple moving average of $256.02 and a 200 day simple moving average of $259.53. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 590.37, a PEG ratio of 5.41 and a beta of 1.30. monday.com has a one year low of $174.75 and a one year high of $324.99.

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

Institutional Trading of monday.com

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com in the 3rd quarter worth about $43,000. Toronto Dominion Bank bought a new position in monday.com during the second quarter worth about $120,000. Vestcor Inc increased its stake in shares of monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after purchasing an additional 124 shares in the last quarter. Larson Financial Group LLC raised its position in shares of monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its stake in shares of monday.com by 18.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after buying an additional 100 shares in 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.