KeyCorp Lowers monday.com (NASDAQ:MNDY) Price Target to $220.00

monday.com (NASDAQ:MNDY) had its target price lowered by equities research analysts at KeyCorp from $270.00 to $220.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 70.12% from the stock’s current price.

A number of other research analysts also recently commented on MNDY. Barclays lowered their target price on monday.com from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Tigress Financial raised their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Bank of America lowered their target price on monday.com from $205.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Robert W. Baird dropped their price objective on shares of monday.com from $240.00 to $210.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Finally, Guggenheim restated a “buy” rating on shares of monday.com in a research note on Friday, January 16th. Twenty-one research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $252.61.

monday.com Stock Performance

NASDAQ MNDY opened at $129.32 on Thursday. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 105.14, a PEG ratio of 2.93 and a beta of 1.26. The firm’s 50 day moving average price is $145.68 and its two-hundred day moving average price is $188.33. monday.com has a twelve month low of $123.45 and a twelve month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.27. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The firm had revenue of $316.86 million for the quarter, compared to analyst estimates of $312.26 million. During the same period in the previous year, the firm earned $0.85 earnings per share. monday.com’s quarterly revenue was up 26.3% on a year-over-year basis. On average, research analysts forecast that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its holdings in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Advisory Services Network LLC bought a new stake in monday.com in the 3rd quarter valued at $28,000. Abound Wealth Management acquired a new stake in shares of monday.com during the 4th quarter worth about $30,000. Promus Capital LLC acquired a new stake in monday.com during the second quarter worth approximately $45,000. Finally, Smartleaf Asset Management LLC lifted its holdings in monday.com by 575.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 223 shares of the company’s stock worth $45,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.