On February 10, 2023, DA Davidson downgraded their outlook for monday.com from Buy to Neutral.
Analyst Price Forecast Suggests 10.64% Upside
As of February 10, 2023, the average one-year price target for monday.com is $154.80. The forecasts range from a low of $116.15 to a high of $241.50. The average price target represents an increase of 10.64% from its latest reported closing price of $139.91.
The projected annual revenue for monday.com is $676MM, an increase of 45.56%. The projected annual EPS is -$1.53.
What are large shareholders doing?
Insight Holdings Group holds 12,949K shares representing 28.72% ownership of the company. In it's prior filing, the firm reported owning 13,877K shares, representing a decrease of 7.17%. The firm decreased its portfolio allocation in MNDY by 0.57% over the last quarter.
Sonnipe holds 4,246K shares representing 9.42% ownership of the company.
Franklin Resources holds 2,146K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 1,895K shares, representing an increase of 11.69%. The firm decreased its portfolio allocation in MNDY by 74.32% over the last quarter.
Price T Rowe Associates holds 1,309K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 2,092K shares, representing a decrease of 59.77%. The firm decreased its portfolio allocation in MNDY by 60.26% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 1,082K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 1,539K shares, representing a decrease of 42.25%. The firm decreased its portfolio allocation in MNDY by 22.24% over the last quarter.
What is the Fund Sentiment?
There are 270 funds or institutions reporting positions in monday.com. This is an increase of 24 owner(s) or 9.76% in the last quarter. Average portfolio weight of all funds dedicated to MNDY is 1.56%, an increase of 19.53%. Total shares owned by institutions increased in the last three months by 11.50% to 34,875K shares. The put/call ratio of MNDY is 1.25, indicating a bearish outlook.
Monday.Com Background Information
(This description is provided by the company.)
The monday.com Work OS is an open platform that democratizes the power of software so organizations can easily build software applications and work management tools to fit their every need. The platform intuitively connects people to processes and systems, empowering teams to excel in every aspect of their work. monday.com has teams in Tel Aviv, New York, San Francisco, Miami, Chicago, London, Kiev and Sydney. The platform is fully customizable to suit any business vertical and is currently used by over 127,000 customers across over 200 industries in more than 190 countries.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
