Loop Capital Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY - Get Free Report) had its target price lowered by equities research analysts at Loop Capital from $310.00 to $300.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Loop Capital's price objective points to a potential upside of 29.39% from the company's previous close.

MNDY has been the topic of a number of other research reports. Robert W. Baird upped their price objective on shares of monday.com from $265.00 to $270.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Wells Fargo & Company lifted their target price on shares of monday.com from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Canaccord Genuity Group upped their price target on shares of monday.com from $295.00 to $310.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. William Blair reissued an "outperform" rating on shares of monday.com in a report on Wednesday, December 18th. Finally, KeyCorp cut shares of monday.com from an "overweight" rating to a "sector weight" rating in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $309.14.

monday.com Trading Down 4.4 %

Shares of MNDY stock traded down $10.64 during trading hours on Monday, hitting $231.85. 972,444 shares of the company's stock were exchanged, compared to its average volume of 752,897. monday.com has a 12-month low of $170.00 and a 12-month high of $324.99. The company has a market capitalization of $11.19 billion, a PE ratio of 565.49, a PEG ratio of 7.61 and a beta of 1.25. The business's 50 day simple moving average is $282.23 and its 200-day simple moving average is $259.27.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to analysts' expectations of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com's quarterly revenue was up 49.5% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. Equities analysts anticipate that monday.com will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently modified their holdings of MNDY. FMR LLC grew its stake in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company's stock worth $420,014,000 after purchasing an additional 798,791 shares in the last quarter. Renaissance Technologies LLC lifted its stake in monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock worth $270,299,000 after acquiring an additional 188,800 shares during the period. Jennison Associates LLC increased its position in monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock valued at $202,905,000 after purchasing an additional 318,837 shares during the period. 1832 Asset Management L.P. lifted its position in shares of monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company's stock worth $160,707,000 after purchasing an additional 170,800 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in monday.com by 2.4% in the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company's stock worth $166,767,000 after buying an additional 14,304 shares in the last quarter. 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.