monday.com (NASDAQ:MNDY) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

monday.com (NASDAQ:MNDY) announced its earnings results on Monday. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13, FiscalAI reports. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company had revenue of $333.88 million for the quarter, compared to analysts’ expectations of $329.71 million.

monday.com Stock Performance

Shares of MNDY opened at $98.00 on Monday. The stock has a fifty day moving average of $138.72 and a 200-day moving average of $174.19. monday.com has a 52 week low of $92.73 and a 52 week high of $342.64. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 79.67, a PEG ratio of 2.22 and a beta of 1.26.

Institutional Trading of monday.com

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after buying an additional 106 shares during the period. Advisory Services Network LLC bought a new position in monday.com in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC raised its stake in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares in the last quarter. Lido Advisors LLC bought a new stake in shares of monday.com during the 3rd quarter worth $265,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in monday.com by 12.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,470 shares of the company’s stock worth $285,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MNDY. Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a research report on Thursday, January 22nd. DA Davidson cut their price target on shares of monday.com from $250.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group cut their price target on monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Morgan Stanley cut their price objective on shares of monday.com from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 27th. Finally, Citigroup decreased their price target on monday.com from $293.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.87.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.