Zacks Research Downgrades monday.com (NASDAQ:MNDY) to Hold

monday.com (NASDAQ:MNDY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

MNDY has been the topic of a number of other reports. Bank of America decreased their price target on monday.com from $157.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Weiss Ratings reissued a “sell (d)” rating on shares of monday.com in a research note on Thursday, January 22nd. Wells Fargo & Company lowered their target price on monday.com from $200.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Cantor Fitzgerald cut their price target on shares of monday.com from $148.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 10th. Finally, BTIG Research cut their price target on shares of monday.com from $210.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $155.38.

monday.com Trading Down 0.7%

NASDAQ MNDY traded down $0.59 during trading hours on Wednesday, reaching $77.89. The company had a trading volume of 383,685 shares, compared to its average volume of 2,799,839. The stock has a 50-day moving average of $109.21 and a 200 day moving average of $153.33. monday.com has a 1-year low of $68.68 and a 1-year high of $316.98. The stock has a market capitalization of $3.95 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 9th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The business had revenue of $333.88 million during the quarter, compared to analysts’ expectations of $329.71 million. During the same period last year, the business earned $1.08 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, sell-side analysts predict that monday.com will post 0.46 EPS for the current year.

Institutional Trading of monday.com

Several hedge funds have recently added to or reduced their stakes in MNDY. WCM Investment Management LLC boosted its holdings in shares of monday.com by 2.8% in the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock valued at $843,519,000 after acquiring an additional 115,353 shares during the period. Ibex Investors LLC acquired a new position in shares of monday.com in the 3rd quarter valued at $34,864,000. Baillie Gifford & Co. raised its position in monday.com by 136.5% in the 3rd quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock valued at $137,186,000 after purchasing an additional 408,848 shares during the last quarter. TenCore Partners LP boosted its stake in monday.com by 42.2% during the 3rd quarter. TenCore Partners LP now owns 141,390 shares of the company’s stock worth $27,386,000 after purchasing an additional 41,935 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in monday.com by 17.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 79,009 shares of the company’s stock worth $15,303,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.