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

monday.com (NASDAQ:MNDY) had its price target dropped by stock analysts at Tigress Financial from $310.00 to $165.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Tigress Financial’s price target indicates a potential upside of 110.20% from the stock’s current price.

Several other brokerages have also commented on MNDY. TD Cowen boosted their target price on shares of monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler boosted their price objective on shares of monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Morgan Stanley lowered their target price 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. DA Davidson set a $100.00 target price on shares of monday.com in a report on Tuesday, February 10th. Finally, BTIG Research decreased their price target on monday.com from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.48.

monday.com Price Performance

Shares of MNDY stock traded up $2.24 during midday trading on Friday, hitting $78.50. The company had a trading volume of 238,153 shares, compared to its average volume of 2,194,304. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 3.43 and a beta of 1.17. The company’s 50 day simple moving average is $70.18 and its 200 day simple moving average is $108.03. monday.com has a 52-week low of $57.50 and a 52-week high of $316.98.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The company had revenue of $351.27 million for the quarter. Analysts anticipate that monday.com will post 1.83 EPS for the current year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in monday.com by 33.6% during the first quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock worth $13,451,000 after acquiring an additional 49,002 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of monday.com in the first quarter valued at approximately $1,534,000. EverSource Wealth Advisors LLC grew its position in shares of monday.com by 498.6% in the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 354 shares during the last quarter. Royal Bank of Canada increased its stake in shares of monday.com by 88.7% during the 1st quarter. Royal Bank of Canada now owns 30,422 shares of the company’s stock worth $2,102,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of monday.com by 4,194.6% during the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after purchasing an additional 14,094 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Company Profile

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.