monday.com (NASDAQ:MNDY) Price Target Lowered to $315.00 at Scotiabank

monday.com (NASDAQ:MNDY) had its price objective cut by Scotiabank from $400.00 to $315.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 22.46% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays lifted their target price on shares of monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group lifted their target price on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. DA Davidson upgraded shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research note on Monday. Finally, Canaccord Genuity Group lifted their price target on shares of monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.45.

monday.com Price Performance

Shares of monday.com stock opened at $257.23 on Monday. The company’s fifty day simple moving average is $267.18 and its 200-day simple moving average is $269.58. The stock has a market capitalization of $12.42 billion, a PE ratio of 428.72, a P/E/G ratio of 16.53 and a beta of 1.27. monday.com has a 1-year low of $174.75 and a 1-year high of $342.64.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 10th. The company reported $0.50 earnings per share 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%. As a group, research analysts anticipate that monday.com will post 0.46 EPS for the current year.

Institutional Trading of monday.com

Several hedge funds have recently made changes to their positions in MNDY. FMR LLC raised its position in monday.com by 78.7% in the 4th quarter. FMR LLC now owns 2,701,952 shares of the company’s stock worth $636,147,000 after purchasing an additional 1,189,858 shares during the period. Norges Bank purchased a new stake in monday.com in the 4th quarter worth about $116,686,000. T. Rowe Price Investment Management Inc. purchased a new stake in monday.com in the 4th quarter worth about $109,605,000. SG Americas Securities LLC raised its position in monday.com by 1,024.7% in the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after purchasing an additional 434,035 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in monday.com by 264.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock worth $126,407,000 after purchasing an additional 403,255 shares during the period. 73.70% of the stock is currently owned by hedge funds and other 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.