monday.com (NASDAQ:MNDY) Price Target Lowered to $290.00 at TD Cowen

monday.com (NASDAQ:MNDY) had its price objective cut by TD Cowen from $360.00 to $290.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on MNDY. Loop Capital cut their price objective on shares of monday.com from $385.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company set a $365.00 price target on shares of monday.com and gave the company an “overweight” rating in a research note on Friday, June 13th. Piper Sandler reduced their price target on shares of monday.com from $325.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday. Scotiabank upped their price objective on monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a report on Friday, May 2nd. Finally, Cowen reiterated a “buy” rating on shares of monday.com in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $305.18.

monday.com Stock Performance

NASDAQ:MNDY opened at $176.92 on Tuesday. monday.com has a one year low of $171.54 and a one year high of $342.64. The stock has a market cap of $8.98 billion, a PE ratio of 239.08, a P/E/G ratio of 6.00 and a beta of 1.27. The stock has a 50 day moving average price of $279.31 and a 200 day moving average price of $274.98.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.25. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The company had revenue of $299.01 million during the quarter, compared to analysts’ expectations of $293.60 million. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, analysts predict that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. PDT Partners LLC increased its stake in monday.com by 74.7% during the 2nd quarter. PDT Partners LLC now owns 16,052 shares of the company’s stock worth $5,048,000 after buying an additional 6,865 shares during the period. QVT Financial LP purchased a new position in monday.com in the 2nd quarter valued at approximately $656,000. Durable Capital Partners LP grew its stake in shares of monday.com by 1.8% in the second quarter. Durable Capital Partners LP now owns 189,684 shares of the company’s stock worth $59,652,000 after acquiring an additional 3,372 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of monday.com by 35.4% in the second quarter. California State Teachers Retirement System now owns 41,294 shares of the company’s stock worth $12,986,000 after acquiring an additional 10,804 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of monday.com by 7.3% during the second quarter. Raymond James Financial Inc. now owns 84,528 shares of the company’s stock worth $26,582,000 after acquiring an additional 5,752 shares during the period. Hedge funds and other 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.