monday.com (NASDAQ:MNDY) Cut to Hold at Canaccord Genuity Group

monday.com (NASDAQ:MNDY) was downgraded by investment analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $90.00 target price on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 12.71% from the company’s previous close.

Several other brokerages also recently commented on MNDY. TD Cowen downgraded monday.com from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $110.00 to $105.00 in a research note on Tuesday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of monday.com in a research report on Tuesday, October 27th. Barclays downgraded monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 price target for the company. in a report on Monday, October 12th. Citigroup lowered their price target on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Capital One Financial cut monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, monday.com presently has an average rating of “Hold” and an average price target of $106.26.

monday.com Price Performance

Shares of NASDAQ MNDY traded down $8.08 during mid-day trading on Monday, reaching $79.85. 2,527,821 shares of the company’s stock traded hands, compared to its average volume of 1,756,987. The stock has a market cap of $4.09 billion, a P/E ratio of 33.98, a PEG ratio of 1.98 and a beta of 1.06. The business has a 50-day simple moving average of $90.72 and a 200 day simple moving average of $83.05. monday.com has a 1-year low of $57.50 and a 1-year high of $169.76.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 9th. The company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.73. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $377.54 million for the quarter, compared to analyst estimates of $369.17 million. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. Equities research analysts anticipate that monday.com will post 2.34 earnings per share for the current fiscal year.

Insider Activity at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of monday.com stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total transaction of $200,080.00. Following the transaction, the director owned 203,455 shares of the company’s stock, valued at $20,353,638.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by corporate insiders.

Institutional Trading of monday.com

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after buying an additional 1,052,900 shares during the last quarter. RPD Fund Management LLC bought a new position in shares of monday.com in the first quarter worth $17,529,000. Russell Investments Group Ltd. boosted its stake in monday.com by 4,477.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 178,530 shares of the company’s stock worth $13,946,000 after purchasing an additional 174,630 shares during the period. Bank of America Corp DE grew its holdings in monday.com by 33.6% during the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock valued at $13,451,000 after buying an additional 49,002 shares in the last quarter. Finally, Swiss National Bank grew its holdings in monday.com by 28.6% during the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after buying an additional 35,400 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

More monday.com News

Here are the key news stories impacting monday.com this week:

• Positive Sentiment: Q3 results topped estimates: earnings were $2.14 per share versus consensus of $1.41, while revenue of $377.54 million exceeded expectations of $369.17 million and grew 19.1% year over year. Monday.com Tops Q3 Earnings and Revenue Estimates
• Negative Sentiment: Q4 revenue guidance of $380 million to $382 million fell short of analysts’ expectations, raising concerns that growth is slowing. The outlook overshadowed the quarterly beat. monday.com Expects Q4 Revenue Range
• Negative Sentiment: Reports say monday.com’s push toward AI is creating near-term headwinds and contributing to slower growth expectations, adding to investor concerns about the outlook. monday.com Warns of Slower Growth as AI Shift Brings Near-Term Headwinds
• Negative Sentiment: Put-option activity was unusually high, with 14,663 puts acquired—about 550% above the average volume. This may indicate increased hedging or bearish positioning, though options activity alone does not establish investor direction.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017.

Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting.

Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.