monday.com (NASDAQ:MNDY) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of monday.com (NASDAQ:MNDY) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other equities analysts have also issued reports on MNDY. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of monday.com in a research note on Tuesday, August 11th. Piper Sandler reissued a “neutral” rating and set a $90.00 price objective on shares of monday.com in a report on Monday, August 10th. Wells Fargo & Company lowered their price objective on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Cantor Fitzgerald cut monday.com from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Finally, Wolfe Research cut shares of monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.91.

monday.com Price Performance

NASDAQ:MNDY opened at $91.07 on Friday. The stock has a market cap of $4.66 billion, a P/E ratio of 38.75, a PEG ratio of 2.13 and a beta of 1.15. monday.com has a one year low of $57.50 and a one year high of $220.80. The company has a fifty day moving average price of $86.63 and a 200 day moving average price of $78.11.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same period last year, the business posted $1.09 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts anticipate that monday.com will post 2.25 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of monday.com by 75.3% during the second quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock worth $1,318,000 after buying an additional 1,801 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 65 shares during the last quarter. Cerity Partners LLC raised its stake in shares of monday.com by 28.8% in the second quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock valued at $816,000 after acquiring an additional 580 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of monday.com in the 2nd quarter worth approximately $398,000. Institutional investors own 73.70% of the company’s stock.

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.