Jefferies Financial Group Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective reduced by research analysts at Jefferies Financial Group from $350.00 to $300.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 23.94% from the company’s previous close.

Several other research analysts also recently commented on the company. Cantor Fitzgerald assumed coverage on monday.com in a research report on Friday. They issued an “overweight” rating and a $292.00 price target on the stock. KeyCorp cut shares of monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Robert W. Baird raised their price target on shares of monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Finally, Scotiabank decreased their target price on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $310.23.

monday.com Stock Up 0.6 %

NASDAQ:MNDY opened at $242.05 on Tuesday. The company’s 50 day moving average is $255.36 and its 200-day moving average is $259.63. monday.com has a 12 month low of $174.75 and a 12 month high of $324.99. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 590.37, a P/E/G ratio of 6.00 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business’s revenue was up 49.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. Research analysts predict that monday.com will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNDY. Mercer Global Advisors Inc. ADV raised its holdings in shares of monday.com by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after buying an additional 47 shares during the last quarter. Avior Wealth Management LLC lifted its position in monday.com by 2.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in shares of monday.com by 18.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after purchasing an additional 100 shares during the last quarter. Vestcor Inc grew its position in shares of monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after buying an additional 124 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in monday.com in the third quarter valued at approximately $43,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.