Cantor Fitzgerald Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its target price upped by analysts at Cantor Fitzgerald from $292.00 to $380.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 16.33% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Robert W. Baird boosted their price target on shares of monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday. Needham & Company LLC increased their price objective on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. Barclays boosted their target price on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Loop Capital reduced their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $350.59.

monday.com Price Performance

Shares of NASDAQ:MNDY traded up $0.09 during midday trading on Tuesday, hitting $326.67. 529,929 shares of the company’s stock were exchanged, compared to its average volume of 1,137,157. monday.com has a 12 month low of $174.75 and a 12 month high of $342.64. The company has a market cap of $15.77 billion, a PE ratio of 796.22, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. The stock has a 50 day moving average price of $250.37 and a 200-day moving average price of $262.04.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. On average, analysts anticipate that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in monday.com during the second quarter valued at approximately $285,000. Inspire Investing LLC purchased a new stake in shares of monday.com in the 3rd quarter valued at $870,000. Sapient Capital LLC bought a new position in shares of monday.com during the 3rd quarter valued at $1,282,000. Chicago Capital LLC raised its position in monday.com by 18.9% in the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock worth $499,000 after purchasing an additional 285 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in monday.com by 431.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

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.