Citigroup Lowers monday.com (NASDAQ:MNDY) Price Target to $230.00

monday.com (NASDAQ:MNDY) had its price target lowered by equities researchers at Citigroup from $293.00 to $230.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 126.13% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Robert W. Baird reduced their price objective on monday.com from $240.00 to $210.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Guggenheim restated a “buy” rating on shares of monday.com in a report on Friday, January 16th. BTIG Research reiterated a “buy” rating and set a $210.00 price target on shares of monday.com in a report on Thursday, January 15th. Barclays lowered their price target on shares of monday.com from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, Jefferies Financial Group cut their price objective on shares of monday.com from $300.00 to $260.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Twenty-one investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $240.70.

monday.com Stock Down 9.8%

Shares of NASDAQ MNDY opened at $101.71 on Monday. The firm has a 50-day simple moving average of $141.46 and a 200-day simple moving average of $178.17. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 82.69, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. monday.com has a 52 week low of $100.08 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.27. The company had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. monday.com’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, equities research analysts expect that monday.com will post 0.46 EPS for the current year.

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently made changes to their positions in MNDY. NewEdge Advisors LLC increased its holdings in monday.com by 2,120.0% in the 1st 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. Promus Capital LLC purchased a new position in shares of monday.com during the second quarter worth $45,000. Advisory Services Network LLC acquired a new stake in shares of monday.com in the third quarter valued at $28,000. EverSource Wealth Advisors LLC grew its stake in shares of monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after buying an additional 65 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of monday.com by 60.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $50,000 after buying an additional 60 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.

About monday.com

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.