Piper Sandler Reiterates Overweight Rating for monday.com (NASDAQ:MNDY)

Piper Sandler reissued their overweight rating on shares of monday.com (NASDAQ:MNDY) in a research note published on Wednesday,Benzinga reports. They currently have a $350.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Barclays increased their price target on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Scotiabank started coverage on shares of monday.com in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 price objective for the company. Canaccord Genuity Group lifted their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer boosted their price objective on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Loop Capital lifted their target price on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $309.62.

monday.com Stock Down 1.7 %

MNDY traded down $3.96 during mid-day trading on Wednesday, reaching $228.03. 290,539 shares of the company traded hands, compared to its average volume of 739,086. The stock has a market capitalization of $11.01 billion, a P/E ratio of 556.17, a P/E/G ratio of 7.75 and a beta of 1.25. monday.com has a 52-week low of $170.00 and a 52-week high of $324.99. The company’s fifty day moving average price is $284.33 and its 200-day moving average price is $258.70.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (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 business had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. During the same period last year, the firm 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, sell-side analysts forecast that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several large investors have recently bought and sold shares of MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new position in monday.com in the third quarter valued at approximately $43,000. Ridgewood Investments LLC acquired a new position in monday.com during the second quarter worth $45,000. Gilliland Jeter Wealth Management LLC lifted its holdings in 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 acquiring an additional 102 shares during the period. Toronto Dominion Bank purchased a new position in shares of monday.com in the 2nd quarter valued at about $120,000. Finally, Vestcor Inc lifted its stake in shares of monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares during the period. Hedge funds and other 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.