monday.com (NASDAQ:MNDY) Upgraded at Scotiabank

Scotiabank upgraded shares of monday.com (NASDAQ:MNDY) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Bank of America increased their target price on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Needham & Company LLC lifted their price objective on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Tigress Financial boosted their price objective on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Baird R W upgraded monday.com to a “hold” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler boosted their price target on monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $260.15 on Monday. The firm’s 50 day simple moving average is $281.22 and its 200-day simple moving average is $250.02. monday.com has a one year low of $169.46 and a one year high of $324.99. The firm has a market cap of $12.56 billion, a PE ratio of 634.51, a price-to-earnings-growth ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period last year, the business posted $0.15 EPS. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. Equities research analysts predict that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently added to or reduced their stakes in MNDY. Mercer Global Advisors Inc. ADV raised its position in monday.com by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after acquiring an additional 47 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of monday.com by 4.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock worth $314,000 after acquiring an additional 50 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of monday.com by 2.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares in the last quarter. FDx Advisors Inc. boosted its position in monday.com by 4.7% during the second quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock worth $482,000 after purchasing an additional 90 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of monday.com by 4.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock valued at $497,000 after buying an additional 91 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.