Piper Sandler Lowers monday.com (NASDAQ:MNDY) Price Target to $345.00

monday.com (NASDAQ:MNDY) had its price objective trimmed by Piper Sandler from $350.00 to $345.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also commented on MNDY. Capital One Financial started coverage on monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. TD Cowen upped their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC increased their price objective on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Loop Capital cut their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $312.85.

monday.com Price Performance

Shares of monday.com stock opened at $227.38 on Monday. monday.com has a 1 year low of $174.75 and a 1 year high of $324.99. The stock has a market cap of $10.98 billion, a PE ratio of 554.59, a price-to-earnings-growth ratio of 7.61 and a beta of 1.30. The firm has a fifty day moving average price of $267.00 and a 200 day moving average price of $259.76.

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

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently modified their holdings of MNDY. Mercer Global Advisors Inc. ADV raised its holdings in monday.com by 4.4% in the 2nd 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 period. Avior Wealth Management LLC raised its stake in shares of monday.com by 2.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after acquiring an additional 67 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of monday.com by 4.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after purchasing an additional 91 shares during the period. Northwest & Ethical Investments L.P. increased its holdings in 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. Finally, Vestcor Inc raised its position in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Company Profile

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.