monday.com (NASDAQ:MNDY) Receives “Outperform” Rating from William Blair

monday.com (NASDAQ:MNDY)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a report issued on Monday, RTT News reports.

A number of other brokerages have also recently commented on MNDY. Wells Fargo & Company upped their target price on shares of monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. KeyCorp upped their target price on shares of monday.com from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Canaccord Genuity Group upped their target price on shares of monday.com from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. upped their target price on shares of monday.com from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Tigress Financial upped their target price on shares of monday.com from $240.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $252.50.

monday.com Stock Performance

NASDAQ MNDY traded down $5.13 during trading hours on Monday, hitting $219.84. The company had a trading volume of 193,801 shares, compared to its average volume of 860,433. monday.com has a 1-year low of $122.13 and a 1-year high of $249.00. The company has a market cap of $10.61 billion, a PE ratio of 580.47 and a beta of 1.30. The business has a 50 day moving average of $209.95 and a 200-day moving average of $208.12.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.25. monday.com had a net margin of 2.53% and a return on equity of 2.42%. The company had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. Sell-side analysts expect that monday.com will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale grew its position in shares of monday.com by 1,175.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,480 shares of the company’s stock valued at $3,927,000 after purchasing an additional 16,109 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of monday.com in the first quarter valued at approximately $264,000. Washington Harbour Partners LP acquired a new stake in shares of monday.com in the first quarter valued at approximately $1,400,000. iA Global Asset Management Inc. grew its position in shares of monday.com by 803.3% in the first quarter. iA Global Asset Management Inc. now owns 10,451 shares of the company’s stock valued at $2,361,000 after purchasing an additional 9,294 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of monday.com by 1,626.7% in the first quarter. Tidal Investments LLC now owns 20,530 shares of the company’s stock valued at $4,637,000 after purchasing an additional 19,341 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other 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.