Citigroup Cuts monday.com (NASDAQ:MNDY) Price Target to $132.00

monday.com (NASDAQ:MNDY) had its price target lowered by Citigroup from $154.00 to $132.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wolfe Research cut shares of monday.com from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. Oppenheimer set a $115.00 price target on shares of monday.com in a research report on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target on shares of monday.com in a report on Monday. BTIG Research reissued a “buy” rating and issued a $105.00 price objective on shares of monday.com in a research report on Monday. Finally, Cantor Fitzgerald downgraded monday.com from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $112.00 to $90.00 in a research note on Monday. Fourteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $117.91.

monday.com Price Performance

Shares of MNDY opened at $94.29 on Tuesday. The business has a 50-day moving average of $80.67 and a 200-day moving average of $78.52. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. monday.com has a 1 year low of $57.50 and a 1 year high of $220.80.

monday.com (NASDAQ:MNDY) last released its earnings results 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. monday.com had a net margin of 8.87% and a return on equity of 8.10%. The business had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. During the same quarter in the prior year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that monday.com will post 2.09 EPS for the current year.

Hedge Funds Weigh In On monday.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of monday.com by 75.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 139,009 shares of the company’s stock valued at $20,512,000 after buying an additional 60,000 shares during the last quarter. Swiss National Bank raised its position in monday.com by 28.6% in the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after buying an additional 35,400 shares during the last quarter. SEB Asset Management AB purchased a new stake in monday.com in the 1st quarter valued at $1,639,000. NewEdge Wealth LLC bought a new position in monday.com during the 4th quarter valued at $5,635,000. Finally, Empowered Funds LLC lifted its stake in monday.com by 4,194.6% during the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock valued at $997,000 after acquiring an additional 14,094 shares in the last quarter. 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.