Canaccord Genuity Group Cuts monday.com (NASDAQ:MNDY) Price Target to $220.00

monday.com (NASDAQ:MNDY) had its price target reduced by Canaccord Genuity Group from $250.00 to $220.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on MNDY. Piper Sandler reiterated an overweight rating and issued a $250.00 price target on shares of monday.com in a research note on Tuesday, February 13th. Wells Fargo & Company began coverage on shares of monday.com in a research report on Tuesday, April 9th. They set an overweight rating and a $260.00 target price on the stock. Citigroup cut shares of monday.com from a buy rating to a neutral rating and decreased their target price for the company from $277.00 to $250.00 in a research report on Wednesday, April 10th. Bank of America began coverage on shares of monday.com in a research report on Monday, February 26th. They set a buy rating and a $280.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of monday.com from a hold rating to a buy rating and upped their target price for the company from $180.00 to $230.00 in a research report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $240.00.

monday.com Stock Performance

MNDY opened at $185.20 on Monday. monday.com has a fifty-two week low of $108.35 and a fifty-two week high of $239.22. The firm’s fifty day moving average is $212.90 and its 200 day moving average is $189.39. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of -2,645.34 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. The business had revenue of $202.60 million for the quarter, compared to analysts’ expectations of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, equities research analysts predict that monday.com will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC bought a new position in monday.com in the 1st quarter worth about $728,521,000. Acadian Asset Management LLC grew its stake in monday.com by 35.8% in the 3rd quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company’s stock worth $181,124,000 after acquiring an additional 300,011 shares in the last quarter. 1832 Asset Management L.P. grew its stake in monday.com by 12.1% in the 4th quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock worth $161,573,000 after acquiring an additional 92,600 shares in the last quarter. Jennison Associates LLC bought a new position in monday.com in the 4th quarter worth about $131,086,000. Finally, Invesco Ltd. grew its stake in monday.com by 331.6% in the 3rd quarter. Invesco Ltd. now owns 629,572 shares of the company’s stock worth $100,240,000 after acquiring an additional 483,709 shares in the last quarter. 73.70% of the stock is currently owned by 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.