monday.com (NASDAQ:MNDY) Given New $148.00 Price Target at Cantor Fitzgerald

monday.com (NASDAQ:MNDY) had its price target lowered by analysts at Cantor Fitzgerald from $215.00 to $148.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 37.06% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Morgan Stanley cut their target price on shares of monday.com from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, January 27th. Jefferies Financial Group cut their price objective on monday.com from $300.00 to $260.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Bank of America decreased their target price on monday.com from $205.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. KeyCorp reduced their price objective on monday.com from $270.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Finally, Robert W. Baird set a $175.00 price objective on monday.com in a report on Tuesday. Twenty-one equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus target price of $235.96.

monday.com Stock Up 6.2%

Shares of monday.com stock traded up $6.28 on Wednesday, reaching $107.99. The company’s stock had a trading volume of 1,826,408 shares, compared to its average volume of 1,631,574. The company has a market capitalization of $5.48 billion, a P/E ratio of 87.62, a PEG ratio of 2.55 and a beta of 1.25. The stock has a 50-day moving average price of $141.46 and a 200-day moving average price of $178.17. monday.com has a 52-week low of $95.08 and a 52-week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.27. The firm had revenue of $316.86 million for 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%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Sell-side analysts forecast that monday.com will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Hedge funds have recently modified their holdings of the business. Spire Wealth Management raised its holdings in monday.com by 7.5% in the 2nd quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $193,000 after buying an additional 43 shares during the period. CWM LLC boosted its stake in monday.com by 31.3% during the second quarter. CWM LLC now owns 210 shares of the company’s stock worth $66,000 after buying an additional 50 shares during the period. RFG Advisory LLC increased its position in shares of monday.com by 2.9% during the second quarter. RFG Advisory LLC now owns 1,958 shares of the company’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake 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 acquiring an additional 60 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after acquiring an additional 65 shares during the period. 73.70% of the stock is currently 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.