Loop Capital Has Lowered Expectations for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price target lowered by investment analysts at Loop Capital from $385.00 to $375.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price would indicate a potential upside of 29.07% from the company’s current price.

A number of other equities research analysts have also commented on the company. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of monday.com in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Barclays upped their price target on monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Finally, KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price on the stock in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $345.36.

monday.com Trading Up 4.1%

NASDAQ MNDY traded up $11.37 on Tuesday, reaching $290.54. The company’s stock had a trading volume of 345,828 shares, compared to its average volume of 796,697. monday.com has a 52 week low of $180.66 and a 52 week high of $342.64. The business has a 50-day moving average price of $255.67 and a 200 day moving average price of $265.12. The firm has a market cap of $14.75 billion, a PE ratio of 484.23, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.40. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The company had revenue of $282.25 million during the quarter, compared to analysts’ expectations of $275.93 million. During the same period last year, the business earned $0.61 earnings per share. The business’s revenue was up 30.2% on a year-over-year basis. Analysts anticipate that monday.com will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new position in shares of monday.com in the fourth quarter worth about $25,000. ASR Vermogensbeheer N.V. purchased a new stake in monday.com during the 1st quarter valued at approximately $25,000. Arcadia Investment Management Corp MI bought a new stake in shares of monday.com during the fourth quarter valued at approximately $28,000. Grove Bank & Trust purchased a new stake in shares of monday.com in the first quarter worth about $30,000. Finally, R Squared Ltd bought a new position in monday.com during the fourth quarter valued at approximately $33,000. 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.