Piper Sandler Lowers monday.com (NASDAQ:MNDY) Price Target to $345.00

monday.com (NASDAQ:MNDY) had its target price dropped by research analysts at Piper Sandler from $350.00 to $345.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 46.65% from the stock’s current price.

A number of other brokerages also recently issued reports on MNDY. Wells Fargo & Company increased their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Needham & Company LLC lifted their price objective on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. DA Davidson restated a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Canaccord Genuity Group raised their target price on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, William Blair reissued an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, monday.com currently has an average rating of “Moderate Buy” and an average price target of $312.85.

monday.com Stock Up 1.8 %

Shares of NASDAQ:MNDY opened at $235.25 on Monday. monday.com has a 12-month low of $170.00 and a 12-month high of $324.99. The company’s 50 day moving average price is $271.21 and its two-hundred day moving average price is $259.85. The firm has a market cap of $11.36 billion, a PE ratio of 573.78, a PEG ratio of 7.61 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, research analysts expect that monday.com will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors have recently modified their holdings of the company. FMR LLC lifted 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 buying an additional 798,791 shares during the period. Jennison Associates LLC lifted its stake in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after purchasing an additional 313,279 shares during the period. Renaissance Technologies LLC grew its stake in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares during the period. Finally, 1832 Asset Management L.P. increased 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 worth $160,707,000 after purchasing an additional 170,800 shares in the last quarter. 73.70% of the stock is 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.