monday.com (NASDAQ:MNDY) Stock Dropped to "Equal Weight" by Barclays

Key Points

• Barclays downgraded monday.com from “overweight” to “equal weight,” while maintaining a $100 price target—about 18% above the stock’s current price.
• Shares fell 4.7% to $84.76, though the company recently exceeded quarterly earnings and revenue expectations, reporting $1.48 EPS and $364.62 million in revenue.
• Analyst sentiment remains moderately bullish overall, with a consensus “Moderate Buy” rating and average price target of $111.70; institutional investors and hedge funds own 73.7% of the stock.

monday.com (NASDAQ:MNDY - Get Free Report) was downgraded by Barclays from an "overweight" rating to an "equal weight" rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $100.00 price target on the stock. Barclays's price target indicates a potential upside of 17.97% from the company's current price.

Other analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of monday.com from a "hold" rating to a "buy" rating in a research note on Monday, October 5th. JPMorgan Chase & Co. cut shares of monday.com from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $90.00 to $87.00 in a research note on Tuesday, September 29th. Cantor Fitzgerald cut shares of monday.com from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $112.00 to $90.00 in a research note on Monday, August 10th. Weiss Ratings reissued a "sell (d+)" rating on shares of monday.com in a research note on Tuesday, September 8th. Finally, Zacks Research raised shares of monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $111.70.

monday.com Trading Down 4.7%

MNDY traded down $4.20 on Monday, reaching $84.76. The stock had a trading volume of 370,571 shares, compared to its average volume of 1,812,185. monday.com has a 12-month low of $57.50 and a 12-month high of $210.49. The business's 50-day moving average price is $88.83 and its two-hundred day moving average price is $79.81. The company has a market cap of $4.34 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

monday.com (NASDAQ:MNDY - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analysts' expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. As a group, analysts predict that monday.com will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in monday.com by 498.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company's stock valued at $29,000 after purchasing an additional 354 shares during the last quarter. Evanson Financial LLC acquired a new position in monday.com in the 2nd quarter valued at about $219,000. State of Wyoming boosted its holdings in monday.com by 96.6% in the 1st quarter. State of Wyoming now owns 3,497 shares of the company's stock valued at $242,000 after purchasing an additional 1,718 shares during the last quarter. Fulton Bank N.A. boosted its holdings in monday.com by 5.1% in the 2nd quarter. Fulton Bank N.A. now owns 3,339 shares of the company's stock valued at $242,000 after purchasing an additional 162 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in monday.com in the 1st quarter valued at about $272,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

About monday.com

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.