monday.com (NASDAQ:MNDY) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of monday.com (NASDAQ:MNDY) in a report issued on Wednesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $275.00 price target on the stock.

Several other research analysts have also recently issued reports on the company. Citigroup cut monday.com from a buy rating to a neutral rating and lowered their price objective for the stock from $277.00 to $250.00 in a research report on Wednesday, April 10th. Piper Sandler reaffirmed an overweight rating and set a $270.00 price objective (up from $250.00) on shares of monday.com in a research report on Wednesday, May 15th. Canaccord Genuity Group upped their price objective on monday.com from $220.00 to $250.00 and gave the stock a buy rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. upped their target price on monday.com from $230.00 to $270.00 and gave the company an overweight rating in a research report on Monday, March 25th. Finally, KeyCorp upped their target price on monday.com from $275.00 to $280.00 and gave the company an overweight rating in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $253.82.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $229.52 on Wednesday. The stock’s 50-day moving average is $212.31 and its two-hundred day moving average is $208.94. 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 $11.08 billion, a price-to-earnings ratio of 604.02 and a beta of 1.30.

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, topping the consensus estimate of ($0.11) by $0.25. The business had revenue of $216.91 million during the quarter, compared to analysts’ expectations of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. Equities research analysts anticipate that monday.com will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Large investors have recently modified their holdings of the business. Raymond James & Associates raised its stake in shares of monday.com by 55.2% during the 4th quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock worth $2,352,000 after buying an additional 4,457 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of monday.com during the 4th quarter worth approximately $25,925,000. M&G Investment Management Ltd. increased its stake in monday.com by 8.5% in the 4th quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company’s stock valued at $9,089,000 after purchasing an additional 3,796 shares in the last quarter. Boulder Hill Capital Management LP purchased a new position in monday.com in the 4th quarter valued at approximately $2,197,000. Finally, Trexquant Investment LP increased its stake in monday.com by 107.5% in the 4th quarter. Trexquant Investment LP now owns 61,096 shares of the company’s stock valued at $11,474,000 after purchasing an additional 31,656 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.