monday.com (NASDAQ:MNDY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of monday.com (NASDAQ:MNDYGet Rating) from a hold rating to a sell rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “The monday.com provides an open platform which democratizes the power of software so organizations can easily build software applications and work management tools to fit their every need. It operates principally in Tel Aviv, New York, San Francisco, Miami, Chicago, London, Kiev and Sydney. The monday.com is based in NEW YORK. “

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group dropped their target price on monday.com from $430.00 to $200.00 and set a buy rating on the stock in a research report on Thursday, February 24th. Cowen dropped their target price on monday.com from $325.00 to $260.00 and set an outperform rating on the stock in a research report on Thursday, February 24th. Jefferies Financial Group dropped their target price on monday.com from $400.00 to $280.00 and set a hold rating on the stock in a research report on Thursday, January 6th. DA Davidson upgraded monday.com from a neutral rating to a buy rating and dropped their target price for the company from $275.00 to $170.00 in a research report on Thursday, February 24th. Finally, Canaccord Genuity Group lowered their price objective on monday.com from $430.00 to $200.00 in a report on Thursday, February 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $288.29.

NASDAQ MNDY opened at $134.24 on Friday. The stock has a 50-day simple moving average of $162.31 and a two-hundred day simple moving average of $254.83. monday.com has a fifty-two week low of $113.05 and a fifty-two week high of $450.00.

monday.com (NASDAQ:MNDYGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported ($0.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.01) by $0.28. monday.com had a negative return on equity of 27.33% and a negative net margin of 41.96%. The firm had revenue of $95.55 million for the quarter, compared to analysts’ expectations of $87.80 million. During the same period last year, the firm earned ($0.64) EPS. The company’s quarterly revenue was up 90.5% on a year-over-year basis. Analysts forecast that monday.com will post -5.71 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Winch Advisory Services LLC acquired a new position in shares of monday.com during the 4th quarter worth approximately $33,000. Arlington Partners LLC acquired a new position in shares of monday.com during the 4th quarter worth approximately $48,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of monday.com during the 4th quarter worth approximately $51,000. Advisor Group Holdings Inc. boosted its holdings in shares of monday.com by 257.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 250 shares of the company’s stock worth $82,000 after purchasing an additional 180 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of monday.com by 186.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 284 shares of the company’s stock worth $88,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 60.85% of the company’s stock.

About monday.com (Get Rating)

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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.

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