Jefferies Financial Group Reduces monday.com Price Target to $360.00

Investment analysts at Jefferies Financial Group have lowered their price target for monday.com (NASDAQ:MNDY) from $400.00 to $360.00, according to a report released on Monday. Despite this change, the brokerage maintains a "buy" rating for the stock. The new price target suggests a potential upside of 47.17% based on the company's current market price.

Analyst Opinions

Several other research firms have also shared their insights on monday.com. For example, on March 17, DA Davidson moved the stock from a "neutral" rating to a "buy" with a price target of $350.00. Furthermore, William Blair reiterated an "outperform" rating on December 18. KeyCorp recently upgraded its rating from "sector weight" to "overweight" and set a price target of $420.00. Additionally, on February 11, both the Goldman Sachs Group and JPMorgan Chase & Co. raised their price targets for the stock to $400.00, maintaining their buy and overweight ratings, respectively. Overall, three analysts have given the stock a hold rating, while 21 have recommended it as a buy. According to MarketBeat.com, the consensus rating for the stock is a "Moderate Buy" with an average target price of $352.64.

Current Performance of monday.com Stock

In mid-day trading on Monday, monday.com shares dropped by $2.40 to reach $244.61, with a total of 334,366 shares traded, which is less than its average volume of 788,950. The company has a market capitalization of $12.42 billion, a P/E ratio of 407.68, a P/E/G ratio of 16.53, and a beta of 1.27. Over the past year, the stock has reached a low of $174.75 and a high of $342.64. Its 50-day simple moving average is $272.99, while the 200-day simple moving average stands at $270.44.

Earnings Overview

monday.com last released its quarterly earnings data on February 10. The company reported earnings per share (EPS) of $0.50, falling short of the consensus estimate of $0.78 by $0.28. The company has a net margin of 3.33% and a return on equity of 6.22%. Analysts predict an average EPS of 0.46 for the current fiscal year.

Institutional Interest

Recently, several hedge funds have adjusted their holdings in monday.com. Oppenheimer & Co. Inc. increased its position by 24.2% during the fourth quarter, now holding 6,765 shares valued at approximately $1,593,000. SBI Securities Co. Ltd. also acquired a new position worth around $245,000. Additionally, UBS Asset Management increased its stake by 10.9% in the third quarter, owning 104,437 shares valued at about $29,009,000. Bailard Inc. raised its holdings by 147.5% during the fourth quarter, and Bank of New York Mellon Corp added to its position by 3.4%. In total, institutional investors and hedge funds control about 73.70% of the company’s stock.

About monday.com

monday.com Ltd., along with its subsidiaries, specializes in developing software applications in various regions including the United States, Europe, and the Middle East. They provide a cloud-based visual work operating system known as Work OS, which offers modular building blocks used to create software applications and work management tools.

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