monday.com (NASDAQ:MNDY) Stock Dropped to “Hold” by Zacks Research

monday.com (NASDAQ:MNDY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

A number of other equities research analysts also recently weighed in on MNDY. BTIG Research restated a “buy” rating and issued a $105.00 target price on shares of monday.com in a research report on Monday, August 10th. Citigroup cut their price target on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 price objective on shares of monday.com in a report on Monday, August 10th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of monday.com in a research note on Tuesday, August 11th. Finally, Capital One Financial lowered shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Monday, August 10th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $111.70.

monday.com Price Performance

MNDY stock traded down $3.93 during trading on Thursday, reaching $90.37. 1,166,192 shares of the stock traded hands, compared to its average volume of 1,064,992. monday.com has a 52-week low of $57.50 and a 52-week high of $210.49. The business’s 50 day moving average price is $88.56 and its 200-day moving average price is $80.40. The firm has a market capitalization of $4.62 billion, a PE ratio of 38.46, a P/E/G ratio of 2.13 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The company 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 firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. On average, equities research analysts predict that monday.com will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Fulton Bank N.A. raised its holdings in shares of monday.com by 5.1% in the second 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. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 354 shares during the last quarter. DGS Capital Management LLC increased its stake in shares of monday.com by 37.0% during the fourth quarter. DGS Capital Management LLC now owns 1,922 shares of the company’s stock worth $284,000 after purchasing an additional 519 shares during the period. USS Investment Management Ltd lifted its holdings in shares of monday.com by 5.8% during the first quarter. USS Investment Management Ltd now owns 9,509 shares of the company’s stock worth $657,000 after buying an additional 524 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of monday.com by 7.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 18,766 shares of the company’s stock worth $1,297,000 after purchasing an additional 1,247 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

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.