KeyCorp Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective reduced by analysts at KeyCorp from $270.00 to $220.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 73.05% from the company’s previous close.

Several other analysts also recently commented on MNDY. DA Davidson dropped their price objective on monday.com from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of monday.com in a report on Wednesday, October 8th. Canaccord Genuity Group cut their price objective on monday.com from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. BTIG Research reiterated a “buy” rating and issued a $210.00 price objective on shares of monday.com in a research report on Thursday, January 15th. Finally, Jefferies Financial Group lowered their target price on monday.com from $300.00 to $260.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $252.61.

monday.com Trading Up 0.2%

NASDAQ:MNDY opened at $127.13 on Thursday. monday.com has a 1-year low of $123.45 and a 1-year high of $342.64. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 103.36, a PEG ratio of 2.92 and a beta of 1.26. The business’s 50-day moving average price is $146.96 and its two-hundred day moving average price is $190.00.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.27. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. During the same period in the prior year, the business posted $0.85 EPS. monday.com’s revenue was up 26.3% on a year-over-year basis. Sell-side analysts predict that monday.com will post 0.46 earnings per share for the current year.

Institutional Trading of monday.com

Institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of monday.com by 74.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock valued at $116,000 after acquiring an additional 158 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of monday.com by 114.8% in the second quarter. Park Avenue Securities LLC now owns 2,090 shares of the company’s stock valued at $657,000 after acquiring an additional 1,117 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of monday.com in the second quarter valued at about $513,000. Finally, Cigna Investments Inc. New bought a new stake in monday.com during the second quarter worth about $239,000. Institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.