monday.com (NASDAQ:MNDY) Downgraded by KeyCorp to Sector Weight

KeyCorp downgraded shares of monday.com (NASDAQ:MNDY) from an overweight rating to a sector weight rating in a research report released on Friday, Marketbeat reports.

Several other equities analysts have also recently issued reports on the company. TD Cowen raised their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup increased their price objective on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Capital One Financial began coverage on monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price for the company. Finally, Canaccord Genuity Group raised their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Stock Performance

MNDY opened at $273.08 on Friday. The company has a market capitalization of $13.18 billion, a P/E ratio of 666.05, a PEG ratio of 7.75 and a beta of 1.25. The company has a 50-day moving average of $285.81 and a 200-day moving average of $258.11. monday.com has a 1-year low of $170.00 and a 1-year high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period in the previous year, the company earned $0.15 earnings per share. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. As a group, sell-side analysts expect that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com in the third quarter valued at $43,000. Ridgewood Investments LLC acquired a new position in shares of monday.com in the 2nd quarter worth $45,000. Gilliland Jeter Wealth Management LLC raised its position in shares of monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the period. Toronto Dominion Bank purchased a new stake in shares of monday.com during the second quarter valued at $120,000. Finally, Vestcor Inc lifted its stake in monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after buying an additional 124 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

About monday.com

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.