Mondee (NASDAQ:MOND) Price Target Cut to $4.25

Mondee (NASDAQ:MOND) had its target price reduced by equities researchers at JMP Securities from $7.00 to $4.25 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 95.85% from the company’s previous close.

MOND has been the topic of several other research reports. Morgan Stanley assumed coverage on shares of Mondee in a research note on Friday, January 5th. They issued an “equal weight” rating and a $3.00 price target on the stock. Northland Securities decreased their price target on shares of Mondee from $6.50 to $4.50 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, Roth Mkm reduced their price target on shares of Mondee from $5.50 to $4.10 and set a “buy” rating on the stock in a research report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Mondee currently has a consensus rating of “Moderate Buy” and an average target price of $4.97.

Mondee Stock Down 2.7 %

Shares of NASDAQ:MOND opened at $2.17 on Tuesday. The company has a market cap of $186.23 million, a P/E ratio of -2.47 and a beta of -0.04. Mondee has a 52 week low of $1.92 and a 52 week high of $13.20. The company has a 50-day moving average price of $2.30 and a 200 day moving average price of $3.01.

Mondee (NASDAQ:MOND) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The firm had revenue of $61.05 million during the quarter, compared to analyst estimates of $55.53 million. Analysts expect that Mondee will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Mondee during the second quarter worth $19,795,000. Vanguard Group Inc. raised its position in Mondee by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,204,741 shares of the company’s stock worth $6,085,000 after acquiring an additional 20,167 shares in the last quarter. TCW Group Inc. bought a new stake in Mondee during the first quarter worth $17,512,000. Citadel Advisors LLC bought a new stake in Mondee during the second quarter worth $5,848,000. Finally, State Street Corp bought a new stake in Mondee during the second quarter worth $5,843,000. Institutional investors and hedge funds own 32.14% of the company’s stock.

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.