monday.com (NASDAQ:MNDY) Price Target Raised to $350.00

monday.com (NASDAQ:MNDY) had its price target increased by Needham & Company LLC from $300.00 to $350.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Bank of America raised 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. Canaccord Genuity Group raised their price target on shares of monday.com from $250.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Tigress Financial raised their price target on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Baird R W upgraded shares of monday.com to a “hold” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird lifted their target price on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and a consensus target price of $310.10.

monday.com Price Performance

Shares of MNDY traded down $9.56 during mid-day trading on Tuesday, hitting $259.34. The company’s stock had a trading volume of 300,867 shares, compared to its average volume of 721,730. The firm has a 50-day moving average price of $280.09 and a 200 day moving average price of $247.65. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 655.85, a PEG ratio of 12.55 and a beta of 1.31. monday.com has a fifty-two week low of $166.86 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY) last announced its earnings results 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 net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, equities analysts anticipate that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently added to or reduced their stakes in MNDY. Price T Rowe Associates Inc. MD boosted its stake in shares of monday.com by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock valued at $714,781,000 after purchasing an additional 31,304 shares during the last quarter. FMR LLC boosted its stake in shares of monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after acquiring an additional 170,800 shares during the period. Institutional investors own 73.70% of the company’s stock.

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.