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

monday.com (NASDAQ:MNDYFree Report) had its price target lowered by Canaccord Genuity Group from $250.00 to $220.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on MNDY. Bank of America began coverage on shares of monday.com in a report on Monday, February 26th. They set a buy rating and a $280.00 price objective for the company. Piper Sandler reaffirmed an overweight rating and set a $250.00 price objective on shares of monday.com in a report on Tuesday, February 13th. KeyCorp began coverage on shares of monday.com in a report on Thursday, March 21st. They set an overweight rating and a $275.00 price objective for the company. Jefferies Financial Group raised shares of monday.com from a hold rating to a buy rating and increased their price objective for the company from $180.00 to $230.00 in a report on Friday, January 5th. Finally, Wells Fargo & Company began coverage on shares of monday.com in a report on Tuesday, April 9th. They set an overweight rating and a $260.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, monday.com currently has an average rating of Moderate Buy and an average price target of $240.00.

Read Our Latest Stock Report on monday.com

monday.com Trading Up 1.3 %

monday.com stock opened at $187.25 on Monday. The firm has a 50 day moving average of $213.64 and a 200 day moving average of $189.42. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -2,674.62 and a beta of 1.18. monday.com has a 12-month low of $108.35 and a 12-month high of $239.22.

monday.com (NASDAQ:MNDYGet Free Report) last released its earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.33. The company had revenue of $202.60 million during the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. On average, analysts predict that monday.com will post -0.16 EPS for the current year.

Institutional Trading of monday.com

A number of institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in monday.com in the first quarter worth $16,868,000. Summit Trail Advisors LLC lifted its position in monday.com by 264.1% in the first quarter. Summit Trail Advisors LLC now owns 55,048 shares of the company’s stock worth $12,434,000 after buying an additional 39,929 shares during the last quarter. Raymond James & Associates lifted its position in monday.com by 131.5% in the first quarter. Raymond James & Associates now owns 28,995 shares of the company’s stock worth $6,549,000 after buying an additional 16,470 shares during the last quarter. Norden Group LLC bought a new stake in shares of monday.com during the first quarter worth $840,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of monday.com by 18.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 56,500 shares of the company’s stock worth $12,762,000 after purchasing an additional 8,636 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

(Get Free Report)

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.

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