monday.com (NASDAQ:MNDY) Price Target Cut to $270.00 by Analysts at KeyCorp

monday.com (NASDAQ:MNDY) had its price target reduced by stock analysts at KeyCorp from $280.00 to $270.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 12.51% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. William Blair restated an “outperform” rating on shares of monday.com in a report on Monday, June 24th. DA Davidson upped their target price on monday.com from $190.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Wells Fargo & Company raised their target price on monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Piper Sandler restated an “overweight” rating and issued a $270.00 price target (up previously from $250.00) on shares of monday.com in a report on Wednesday, May 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of monday.com from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $253.24.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $239.97 on Tuesday. The firm has a market capitalization of $11.59 billion, a PE ratio of 631.52, a P/E/G ratio of 48.15 and a beta of 1.30. monday.com has a 12 month low of $122.13 and a 12 month high of $249.00. The business has a 50-day moving average of $215.75 and a two-hundred day moving average of $210.35.

monday.com (NASDAQ:MNDY) last posted its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.25. The firm had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. monday.com had a net margin of 2.53% and a return on equity of 2.42%. As a group, research analysts anticipate that monday.com will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MNDY. DekaBank Deutsche Girozentrale lifted its position in monday.com by 1,175.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,480 shares of the company’s stock worth $3,927,000 after purchasing an additional 16,109 shares during the period. Cetera Advisors LLC bought a new stake in shares of monday.com in the 1st quarter worth $264,000. Washington Harbour Partners LP acquired a new stake in shares of monday.com in the first quarter valued at $1,400,000. iA Global Asset Management Inc. boosted its stake in monday.com by 803.3% during the first quarter. iA Global Asset Management Inc. now owns 10,451 shares of the company’s stock valued at $2,361,000 after buying an additional 9,294 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in monday.com by 1,626.7% during the first quarter. Tidal Investments LLC now owns 20,530 shares of the company’s stock worth $4,637,000 after acquiring an additional 19,341 shares during the period. 73.70% of the stock is currently owned by institutional investors.

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.