JPMorgan Chase & Co. Issues Pessimistic Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price cut by equities researchers at JPMorgan Chase & Co. from $400.00 to $350.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 28.06% from the stock’s previous close.

A number of other equities research analysts also recently commented on MNDY. Barclays upped their price objective on monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Needham & Company LLC upped their price objective on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Piper Sandler reduced their target price on monday.com from $385.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price for the company in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group dropped their price target on monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and an average price target of $342.86.

monday.com Trading Down 2.1 %

monday.com stock opened at $273.31 on Tuesday. The company has a market cap of $13.88 billion, a PE ratio of 455.52, a PEG ratio of 16.53 and a beta of 1.32. monday.com has a 1 year low of $180.66 and a 1 year high of $342.64. The company’s 50-day moving average is $256.41 and its two-hundred day moving average is $265.59.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Research analysts forecast that monday.com will post 0.46 EPS for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in monday.com during the fourth quarter worth $25,000. Arcadia Investment Management Corp MI bought a new position in shares of monday.com in the 4th quarter valued at about $28,000. Grove Bank & Trust acquired a new position in shares of monday.com during the 1st quarter worth about $30,000. R Squared Ltd bought a new stake in shares of monday.com in the 4th quarter valued at about $33,000. Finally, Signaturefd LLC lifted its stake in monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.