monday.com (NASDAQ:MNDY) Price Target Lowered to $220.00 at Canaccord Genuity Group

monday.com (NASDAQ:MNDY) had its target price cut by equities researchers at Canaccord Genuity Group from $250.00 to $220.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 23.55% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler reissued an “overweight” rating and set a $250.00 price target on shares of monday.com in a research report on Tuesday, February 13th. Citigroup cut shares of monday.com from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $277.00 to $250.00 in a report on Wednesday, April 10th. KeyCorp assumed coverage on shares of monday.com in a report on Thursday, March 21st. They issued an “overweight” rating and a $275.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of monday.com in a report on Tuesday, February 13th. Finally, Wells Fargo & Company assumed coverage on shares of monday.com in a report on Tuesday, April 9th. They issued an “overweight” rating and a $260.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $240.00.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $178.07 on Monday. monday.com has a 1 year low of $108.35 and a 1 year high of $239.22. The stock has a market cap of $8.60 billion, a P/E ratio of -2,543.49 and a beta of 1.18. The firm has a 50-day moving average of $215.50 and a 200 day moving average of $189.05.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company had revenue of $202.60 million during the quarter, compared to analysts’ expectations of $197.97 million. During the same period last year, the company posted ($0.03) EPS. monday.com’s revenue was up 35.5% on a year-over-year basis. Research analysts expect that monday.com will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Several large investors have recently added to or reduced their stakes in MNDY. Desjardins Global Asset Management Inc. grew its position in monday.com by 222.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after buying an additional 91 shares during the period. Crewe Advisors LLC grew its position in monday.com by 44.9% during the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the period. Quarry LP boosted its position in shares of monday.com by 192.0% in the first quarter. Quarry LP now owns 254 shares of the company’s stock worth $36,000 after purchasing an additional 167 shares during the period. Arlington Partners LLC boosted its position in shares of monday.com by 104.1% in the third quarter. Arlington Partners LLC now owns 247 shares of the company’s stock worth $39,000 after purchasing an additional 126 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of monday.com by 26.8% in the fourth quarter. Advisors Asset Management Inc. now owns 383 shares of the company’s stock worth $47,000 after purchasing an additional 81 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.