monday.com (NASDAQ:MNDY) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of monday.com (NASDAQ:MNDYFree Report) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $260.00 price target on the stock.

MNDY has been the topic of a number of other research reports. Oppenheimer increased their price target on monday.com from $220.00 to $240.00 and gave the stock an outperform rating in a research note on Tuesday, February 13th. Needham & Company LLC reaffirmed a buy rating and issued a $230.00 target price on shares of monday.com in a research report on Tuesday, February 13th. JPMorgan Chase & Co. increased their target price on monday.com from $230.00 to $270.00 and gave the stock an overweight rating in a research report on Monday, March 25th. KeyCorp assumed coverage on monday.com in a research report on Thursday, March 21st. They issued an overweight rating and a $275.00 target price on the stock. Finally, Piper Sandler reaffirmed an overweight rating and issued a $250.00 target price on shares of monday.com in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $238.33.

Get Our Latest Stock Analysis on monday.com

monday.com Stock Down 3.5 %

Shares of monday.com stock opened at $193.11 on Tuesday. monday.com has a fifty-two week low of $108.35 and a fifty-two week high of $239.22. The firm has a market cap of $9.32 billion, a PE ratio of -2,758.32 and a beta of 1.18. The business’s fifty day moving average is $219.26 and its two-hundred day moving average is $187.60.

monday.com (NASDAQ:MNDYGet Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The company had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities research analysts anticipate that monday.com will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in shares of monday.com by 98.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,684,101 shares of the company’s stock worth $383,156,000 after acquiring an additional 1,332,770 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of monday.com by 35.8% during the third quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company’s stock worth $181,124,000 after acquiring an additional 300,011 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of monday.com by 44.6% during the fourth quarter. 1832 Asset Management L.P. now owns 893,500 shares of the company’s stock worth $109,007,000 after acquiring an additional 275,800 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of monday.com during the second quarter worth about $140,686,000. Finally, BlackRock Inc. increased its position in shares of monday.com by 577.1% during the second quarter. BlackRock Inc. now owns 761,969 shares of the company’s stock worth $130,464,000 after acquiring an additional 649,439 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Company Profile

(Get Free Report)

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.

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Analyst Recommendations for monday.com (NASDAQ:MNDY)

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