The Goldman Sachs Group Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price increased by investment analysts at The Goldman Sachs Group from $350.00 to $400.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 22.03% from the stock’s previous close.

MNDY has been the topic of a number of other research reports. Cantor Fitzgerald increased their target price on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday. Oppenheimer boosted their target price on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson increased their price target on shares of monday.com from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group increased their target price on shares of monday.com from $300.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $353.32.

monday.com Stock Performance

monday.com stock traded up $1.20 during midday trading on Tuesday, hitting $327.78. 655,800 shares of the company’s stock were exchanged, compared to its average volume of 1,147,016. The stock has a 50-day moving average price of $250.37 and a two-hundred day moving average price of $262.04. monday.com has a 52-week low of $174.75 and a 52-week high of $342.64. The company has a market cap of $15.83 billion, a P/E ratio of 799.47, a PEG ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share 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%. As a group, sell-side analysts expect that monday.com will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. FMR LLC grew its holdings in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares during the period. SG Americas Securities LLC increased its position in monday.com by 1,024.7% during the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after buying an additional 434,035 shares in the last quarter. Jennison Associates LLC raised its stake in monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 acquiring an additional 313,279 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of monday.com in the fourth quarter worth $27,010,000. 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.