monday.com (NASDAQ:MNDY) Upgraded at Citigroup

Citigroup upgraded shares of monday.com (NASDAQ:MNDY) from a neutral rating to a buy rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $298.00 price target on the stock, down from their previous price target of $302.00.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC increased their price objective on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer upped their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Capital One Financial began coverage on shares of monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price on the stock. Loop Capital reduced their price target on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Scotiabank initiated coverage on monday.com in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.48.

monday.com Stock Performance

MNDY opened at $242.05 on Thursday. monday.com has a 52 week low of $174.75 and a 52 week high of $324.99. The firm has a market capitalization of $11.69 billion, a PE ratio of 590.37, a P/E/G ratio of 5.41 and a beta of 1.30. The company has a fifty day moving average price of $256.02 and a two-hundred day moving average price of $259.53.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Equities analysts forecast that monday.com will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of monday.com during the third quarter valued at approximately $43,000. Toronto Dominion Bank bought a new position in monday.com in the 2nd quarter valued at $120,000. Vestcor Inc raised its holdings in shares of monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after acquiring an additional 124 shares in the last quarter. Larson Financial Group LLC raised its stake in monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its holdings in shares of monday.com by 18.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after acquiring an additional 100 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

About monday.com

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.