monday.com (NASDAQ:MNDY) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank initiated coverage on shares of monday.com (NASDAQ:MNDY) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued a sector outperform rating and a $325.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird upped their target price on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Citigroup lifted their price objective on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Capital One Financial began coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target on the stock. Finally, Bank of America upped their price target on monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Stock Up 3.0 %

Shares of NASDAQ MNDY opened at $284.59 on Tuesday. The business’s 50 day moving average is $282.14 and its two-hundred day moving average is $250.83. monday.com has a 52-week low of $170.00 and a 52-week high of $324.99. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 694.12, a PEG ratio of 7.16 and a beta of 1.31.

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

Institutional Trading of monday.com

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com in the third quarter worth about $43,000. Ridgewood Investments LLC bought a new stake in shares of monday.com during the second quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in monday.com in the second quarter valued at approximately $69,000. Finally, Industrial Alliance Investment Management Inc. raised its stake in monday.com by 741.7% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after buying an additional 356 shares during the period. 73.70% of the stock is owned by 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.