monday.com (NASDAQ:MNDY) Price Target Raised to $340.00

monday.com (NASDAQ:MNDY) had its price target hoisted by Wells Fargo & Company from $330.00 to $340.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also recently commented on MNDY. Cantor Fitzgerald initiated coverage on shares of monday.com in a report on Friday, January 17th. They set an “overweight” rating and a $292.00 target price on the stock. KeyCorp cut shares of monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Canaccord Genuity Group lifted their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Scotiabank cut their price target on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Needham & Company LLC lifted their price objective on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and a consensus target price of $310.68.

monday.com Trading Down 1.9 %

monday.com stock opened at $248.90 on Tuesday. The firm has a market cap of $12.02 billion, a P/E ratio of 607.07, a P/E/G ratio of 6.13 and a beta of 1.30. monday.com has a 1-year low of $174.75 and a 1-year high of $324.99. The firm has a 50-day moving average of $254.39 and a 200-day moving average of $259.51.

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

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently bought and sold shares of MNDY. Mediolanum International Funds Ltd bought a new position in shares of monday.com during the 4th quarter valued at approximately $905,000. Hantz Financial Services Inc. bought a new position in monday.com during the fourth quarter valued at $713,000. Robeco Institutional Asset Management B.V. raised its stake in shares of monday.com by 57.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 57,533 shares of the company’s stock valued at $13,546,000 after acquiring an additional 20,961 shares during the period. R Squared Ltd bought a new stake in shares of monday.com in the 4th quarter worth about $33,000. Finally, Blue Trust Inc. boosted its stake 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 worth $349,000 after purchasing an additional 1,163 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.