monday.com (NASDAQ:MNDY) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of monday.com (NASDAQ:MNDY) in a research report released on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $292.00 price objective on the stock.

Several other research firms also recently weighed in on MNDY. Wells Fargo & Company lifted their target price on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird lifted their target price on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Scotiabank cut their price objective on shares of monday.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a research report on Thursday. Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and cut their price objective for the company from $302.00 to $298.00 in a research report on Thursday. Finally, Barclays raised their price objective on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $310.48.

monday.com Stock Performance

NASDAQ MNDY opened at $242.05 on Friday. The company has a market capitalization of $11.69 billion, a PE ratio of 590.37, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30. The company has a 50-day simple moving average of $256.02 and a 200 day simple moving average of $259.64. monday.com has a 52-week low of $174.75 and a 52-week high of $324.99.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MNDY. Rhumbline Advisers raised its stake in shares of monday.com by 25.2% during the second quarter. Rhumbline Advisers now owns 8,446 shares of the company’s stock worth $2,033,000 after acquiring an additional 1,701 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of monday.com by 7.0% during the second quarter. Victory Capital Management Inc. now owns 5,677 shares of the company’s stock worth $1,367,000 after acquiring an additional 370 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of monday.com by 4.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after acquiring an additional 91 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of monday.com by 19.3% during the second quarter. Envestnet Asset Management Inc. now owns 185,567 shares of the company’s stock worth $44,677,000 after acquiring an additional 29,982 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake 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 worth $271,000 after acquiring an additional 47 shares in the last quarter. 73.70% of the stock is 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.