DA Davidson Reaffirms “Neutral” Rating for monday.com (NASDAQ:MNDY)

monday.com (NASDAQ:MNDY)‘s stock had its “neutral” rating restated by investment analysts at DA Davidson in a note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $300.00 target price on the stock. DA Davidson’s target price suggests a potential upside of 11.46% from the company’s previous close.

A number of other research firms also recently weighed in on MNDY. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of monday.com in a report on Thursday, September 26th. Piper Sandler raised 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. UBS Group upped their price objective on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Robert W. Baird raised their target price on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Citigroup upped their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.10.

monday.com Stock Up 3.3 %

Shares of MNDY opened at $269.16 on Tuesday. The stock has a market cap of $13.00 billion, a price-to-earnings ratio of 656.49, a P/E/G ratio of 12.15 and a beta of 1.31. monday.com has a 12 month low of $159.22 and a 12 month high of $324.99. The company has a 50-day moving average price of $279.69 and a two-hundred day moving average price of $247.51.

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 the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The company’s revenue was up 49.5% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. Equities research analysts expect that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC acquired a new position in shares of monday.com in the second quarter valued at $45,000. Gilliland Jeter Wealth Management LLC raised its position in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of monday.com during the 2nd quarter worth about $69,000. Finally, Industrial Alliance Investment Management Inc. grew its stake in monday.com by 741.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 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.