Mondee (NASDAQ:MOND) Receives “Overweight” Rating from Cantor Fitzgerald

Mondee (NASDAQ:MOND)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $9.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 30.43% from the stock’s current price.

MOND has been the topic of a number of other reports. JMP Securities restated a “market outperform” rating and issued a $13.00 price objective on shares of Mondee in a report on Wednesday, July 26th. Northland Securities cut their price objective on Mondee from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, September 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Mondee presently has a consensus rating of “Buy” and a consensus target price of $12.17.

Mondee Price Performance

NASDAQ:MOND traded down $0.22 during mid-day trading on Monday, reaching $6.90. The company’s stock had a trading volume of 107,551 shares, compared to its average volume of 168,350. The company’s fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $9.29. Mondee has a twelve month low of $5.77 and a twelve month high of $14.25. The stock has a market cap of $584.29 million, a P/E ratio of -4.70 and a beta of -0.22.

Mondee (NASDAQ:MOND) last issued its quarterly earnings results on Tuesday, August 15th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $56.77 million during the quarter, compared to analysts’ expectations of $55.25 million. Sell-side analysts expect that Mondee will post -0.48 EPS for the current fiscal year.

Insider Activity at Mondee

In other Mondee news, CEO Prasad Gundumogula bought 37,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $6.04 per share, with a total value of $223,480.00. Following the transaction, the chief executive officer now directly owns 9,855,494 shares in the company, valued at approximately $59,527,183.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 62,000 shares of company stock worth $384,380. 46.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mondee

Institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC bought a new stake in shares of Mondee in the 4th quarter valued at approximately $2,635,000. Alphabet Inc. bought a new position in Mondee during the 1st quarter worth $206,000. UBS Group AG grew its stake in Mondee by 3,415.0% during the 1st quarter. UBS Group AG now owns 4,921 shares of the company’s stock worth $55,000 after buying an additional 4,781 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Mondee during the 2nd quarter worth $33,000. Finally, Lazard Asset Management LLC bought a new position in Mondee during the 2nd quarter worth $28,000. 21.62% of the stock is currently owned by institutional investors.

About Mondee

Mondee Holdings, Inc operates as a travel technology company in the leisure and corporate travel markets in the United States and internationally. The company operates through two segments, Travel Marketplace and SaaS Platform. The Travel Marketplace segment primarily engages in sale of airline tickets through its platform.