Loop Capital Lowers monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price target cut by Loop Capital from $310.00 to $300.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 23.38% from the stock’s current price.

Other equities research analysts have also issued reports about the company. William Blair restated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Wells Fargo & Company upped their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. TD Cowen lifted their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Scotiabank began coverage on shares of monday.com in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 price objective on the stock. 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 equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $309.14.

monday.com Stock Performance

Shares of MNDY opened at $243.15 on Monday. The firm has a market cap of $11.74 billion, a PE ratio of 593.05, a PEG ratio of 7.61 and a beta of 1.25. The firm’s 50 day moving average price is $282.23 and its 200 day moving average price is $258.96. monday.com has a twelve month low of $170.00 and a twelve month high of $324.99.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. On average, sell-side analysts anticipate that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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