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

monday.com (NASDAQ:MNDY) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Briefing.com reports. They currently have a $105.00 target price on the stock. TD Cowen‘s price objective would suggest a potential upside of 10.22% from the stock’s current price.

MNDY has been the topic of a number of other reports. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research report on Sunday. BTIG Research reiterated a “buy” rating and issued a $105.00 price objective on shares of monday.com in a report on Thursday, October 29th. Cantor Fitzgerald downgraded shares of monday.com from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $112.00 to $90.00 in a report on Monday, August 10th. Zacks Research lowered shares of monday.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Finally, Piper Sandler restated a “neutral” rating and set a $90.00 target price on shares of monday.com in a report on Thursday, October 29th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, monday.com presently has an average rating of “Hold” and a consensus price target of $107.35.

monday.com Stock Performance

Shares of MNDY stock opened at $95.26 on Tuesday. The stock’s fifty day moving average is $90.87 and its two-hundred day moving average is $83.77. The firm has a market capitalization of $4.87 billion, a P/E ratio of 40.54, a PEG ratio of 2.21 and a beta of 1.14. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $210.49.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts forecast that monday.com will post 2.34 earnings per share for the current year.

Insider Activity

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the sale, the director directly owned 203,455 shares of the company’s stock, valued at $20,353,638.20. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal 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. 22.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MNDY. Renaissance Technologies LLC grew its holdings in shares of monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the period. RPD Fund Management LLC purchased a new position in monday.com during the first quarter worth about $17,529,000. Bank of America Corp DE raised its stake in monday.com by 33.6% during the first quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock worth $13,451,000 after purchasing an additional 49,002 shares during the period. Swiss National Bank boosted its holdings in monday.com by 28.6% in the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after purchasing an additional 35,400 shares during the last quarter. Finally, Ardmore Road Asset Management LP boosted its holdings in monday.com by 18.1% in the 1st quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company’s stock valued at $8,203,000 after purchasing an additional 18,234 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.