monday.com (NASDAQ:MNDY) Cut to Hold at TD Cowen

TD Cowen lowered shares of monday.com (NASDAQ:MNDY) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat reports. They currently have $105.00 target price on the stock, down from their prior target price of $110.00.

A number of other analysts have also recently weighed in on MNDY. Wells Fargo & Company reduced their target price on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. BTIG Research restated a “buy” rating and issued a $105.00 price target on shares of monday.com in a research report on Thursday, October 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price target on shares of monday.com in a report on Thursday, October 29th. Weiss Ratings upgraded monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $125.00 price objective on shares of monday.com in a research report on Tuesday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $107.35.

monday.com Trading Down 3.1%

Shares of NASDAQ MNDY opened at $93.84 on Tuesday. monday.com has a twelve month low of $57.50 and a twelve month high of $190.72. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.18 and a beta of 1.06. The firm has a 50-day moving average of $90.95 and a two-hundred day moving average of $83.24.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. As a group, research analysts predict that monday.com will post 2.34 earnings per share for the current year.

Insider Transactions at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total transaction of $200,080.00. Following the completion of the sale, the director directly owned 203,455 shares of the company’s stock, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. First Command Advisory Services Inc. acquired a new stake in shares of monday.com in the third quarter worth $200,000. Commonwealth Equity Services LLC grew its holdings in shares of monday.com by 56.8% during the third quarter. Commonwealth Equity Services LLC now owns 4,746 shares of the company’s stock valued at $372,000 after buying an additional 1,720 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of monday.com during the third quarter valued at $1,517,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in monday.com during the third quarter valued at $240,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in monday.com by 18.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 83,164 shares of the company’s stock valued at $6,525,000 after buying an additional 12,738 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.