Piper Sandler Increases monday.com (NASDAQ:MNDY) Price Target to $340.00

monday.com (NASDAQ:MNDY) had its price objective boosted by equities researchers at Piper Sandler from $300.00 to $340.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 17.49% from the stock’s current price.

Several other research analysts also recently commented on the company. Bank of America increased their price objective on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Tigress Financial raised their target price on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research note on Monday, June 24th. Robert W. Baird raised their target price on monday.com from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their target price on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $303.35.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $289.38 on Monday. The business’s 50 day moving average price is $268.32 and its 200-day moving average price is $235.67. monday.com has a 1 year low of $122.13 and a 1 year high of $293.88. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 761.53, a price-to-earnings-growth ratio of 13.68 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. 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 will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in monday.com during the 3rd quarter valued at about $21,989,000. Allspring Global Investments Holdings LLC boosted its holdings in monday.com by 431.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after acquiring an additional 313,279 shares during the period. Chicago Capital LLC boosted its holdings in monday.com by 18.9% during the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock valued at $499,000 after acquiring an additional 285 shares during the period. Sapient Capital LLC purchased a new position in monday.com during the 3rd quarter valued at about $1,282,000. Finally, Inspire Investing LLC purchased a new position in monday.com during the 3rd quarter valued at about $870,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

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.