Jefferies Financial Group Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price reduced by analysts at Jefferies Financial Group from $400.00 to $360.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 47.17% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and decreased their price target for the company from $302.00 to $298.00 in a research report on Thursday, January 16th. Barclays lifted their target price on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Canaccord Genuity Group increased their price target on monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a research note on Tuesday, February 11th. Finally, Piper Sandler increased their target price on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $352.64.

monday.com Price Performance

MNDY traded down $2.40 on Monday, hitting $244.61. 334,366 shares of the stock were exchanged, compared to its average volume of 788,950. monday.com has a 12 month low of $174.75 and a 12 month high of $342.64. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 407.68, a PEG ratio of 16.53 and a beta of 1.27. The business has a 50-day moving average of $272.99 and a two-hundred day moving average of $270.44.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Equities research analysts expect that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of monday.com by 49.2% during the fourth quarter. Wellington Management Group LLP now owns 41,959 shares of the company’s stock worth $9,879,000 after purchasing an additional 13,827 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in monday.com during the fourth quarter worth $1,905,000. Employees Retirement System of Texas bought a new position in shares of monday.com in the fourth quarter valued at $187,000. Polar Asset Management Partners Inc. acquired a new position in shares of monday.com during the fourth quarter valued at about $9,629,000. Finally, Mackenzie Financial Corp grew its holdings in shares of monday.com by 18.2% during the fourth quarter. Mackenzie Financial Corp now owns 2,430 shares of the company’s stock valued at $572,000 after buying an additional 374 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

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.