The firm also lowered its price target to $3.40 from $3.50 on shares of the Weston, MA-based job search platform.
The downgrade comes after Randstad (RANJY) said it would acquire the company for $429 million yesterday.
Randstad has offered $3.40 per share for each Monster share, representing a 23% premium to Monster's Monday closing price.
Shares of Monster were lower in pre-market trading on Wednesday.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income, weak operating cash flow and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MWW