KeyCorp Downgrades monday.com (NASDAQ:MNDY) to Sector Weight

monday.com (NASDAQ:MNDY) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued on Friday, Marketbeat reports.

A number of other analysts have also recently weighed in on MNDY. Citigroup increased their price target on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Tigress Financial lifted their target price on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company lifted their target price on monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Barclays upped their price target on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, TD Cowen increased their price target on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Stock Down 3.2 %

NASDAQ MNDY opened at $273.08 on Friday. monday.com has a fifty-two week low of $170.00 and a fifty-two week high of $324.99. The stock has a market cap of $13.18 billion, a PE ratio of 666.05, a P/E/G ratio of 7.75 and a beta of 1.25. The business has a 50 day moving average price of $285.81 and a two-hundred day moving average price of $258.24.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. During the same period in the prior year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. Sell-side analysts anticipate that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. American Trust bought a new stake in shares of monday.com in the 3rd quarter worth approximately $204,000. Wilmington Savings Fund Society FSB bought a new position in shares of monday.com in the third quarter valued at about $469,000. Geode Capital Management LLC raised its position in monday.com by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 330,777 shares of the company’s stock worth $91,447,000 after purchasing an additional 12,968 shares during the last quarter. Vestcor Inc raised its holdings in monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after purchasing an additional 124 shares during the last quarter. Finally, Barclays PLC raised its position in shares of monday.com by 225.8% during the 3rd quarter. Barclays PLC now owns 17,427 shares of the company’s stock valued at $4,840,000 after acquiring an additional 12,078 shares during the last quarter. Institutional investors and hedge funds 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.