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

monday.com (NASDAQ:MNDY) had its price objective lowered by Scotiabank from $400.00 to $315.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 19.71% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group increased their price target on monday.com from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC increased their price target on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Canaccord Genuity Group lifted their target price on monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Tigress Financial lifted their target price on monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, DA Davidson raised monday.com from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $354.45.

monday.com Stock Up 2.8 %

MNDY stock traded up $7.26 during midday trading on Monday, reaching $263.13. The company’s stock had a trading volume of 253,362 shares, compared to its average volume of 764,042. The business’s 50-day simple moving average is $265.97 and its 200-day simple moving average is $269.63. monday.com has a 52 week low of $174.75 and a 52 week high of $342.64. The stock has a market cap of $12.70 billion, a PE ratio of 439.72, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. As a group, equities analysts forecast that monday.com will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in monday.com by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company’s stock valued at $1,593,000 after purchasing an additional 1,318 shares in the last quarter. Jennison Associates LLC increased its holdings in monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of monday.com during the 4th quarter valued at about $245,000. Swiss National Bank increased its holdings in shares of monday.com by 2.2% in the 3rd quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $30,944,000 after acquiring an additional 2,400 shares during the period. Finally, Brown Capital Management LLC raised its stake in shares of monday.com by 2.4% during the third quarter. Brown Capital Management LLC now owns 110,720 shares of the company’s stock valued at $30,755,000 after purchasing an additional 2,583 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

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.