Robert W. Baird Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target increased by research analysts at Robert W. Baird from $270.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 8.37% from the company’s current price.

A number of other equities research analysts have also commented on MNDY. Piper Sandler dropped their target price on monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Capital One Financial began coverage on shares of monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective on the stock. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. TD Cowen boosted their target price on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Loop Capital cut their price target on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $310.68.

monday.com Price Performance

MNDY stock opened at $253.75 on Tuesday. monday.com has a 12 month low of $174.75 and a 12 month high of $324.99. The firm’s 50-day moving average is $254.79 and its 200 day moving average is $259.58. The company has a market capitalization of $12.25 billion, a PE ratio of 618.90, a P/E/G ratio of 6.00 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS. Sell-side analysts forecast that monday.com will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of monday.com by 364.6% during the 4th quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $349,000 after acquiring an additional 1,163 shares during the last quarter. RFG Advisory LLC bought a new stake in monday.com during the fourth quarter worth approximately $399,000. SG Americas Securities LLC grew its holdings in monday.com by 1,024.7% during the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after purchasing an additional 434,035 shares during the last quarter. Legal Advantage Investments Inc. bought a new position in shares of monday.com in the fourth quarter valued at approximately $235,000. Finally, Oak Ridge Investments LLC acquired a new stake in shares of monday.com in the fourth quarter worth $633,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.