monday.com (NASDAQ:MNDY) Hits New 1-Year High Following Analyst Upgrade

monday.com Ltd. (NASDAQ:MNDY) reached a new 52-week high during trading on Wednesday after Loop Capital raised their price target on the stock from $285.00 to $310.00. Loop Capital currently has a buy rating on the stock. monday.com traded as high as $284.14 and last traded at $283.40, with a volume of 5072 shares traded. The stock had previously closed at $281.64.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC lifted their target price on shares of monday.com from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Barclays boosted their price objective on monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Bank of America increased their target price on monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Tigress Financial boosted their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, TD Cowen increased their price objective on shares of monday.com from $275.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $287.11.

Hedge Funds Weigh In On monday.com

Large investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its position in shares of monday.com by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after buying an additional 47 shares during the period. Crossmark Global Holdings Inc. grew its position in monday.com by 4.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock valued at $314,000 after acquiring an additional 50 shares during the last quarter. FDx Advisors Inc. grew its position in monday.com by 4.7% in the 2nd quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock valued at $482,000 after acquiring an additional 90 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in monday.com by 4.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after purchasing an additional 91 shares during the period. Finally, American International Group Inc. lifted its position in shares of monday.com by 2.3% during the first quarter. American International Group Inc. now owns 4,550 shares of the company’s stock worth $1,028,000 after purchasing an additional 102 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Price Performance

The stock has a market capitalization of $13.63 billion, a P/E ratio of 741.16, a PEG ratio of 13.58 and a beta of 1.32. The stock’s fifty day moving average price is $247.67 and its 200 day moving average price is $227.96.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The firm had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. On average, sell-side analysts expect that monday.com Ltd. will post 0.49 earnings per share for the current year.

monday.com Company Profile

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.