monday.com (NASDAQ:MNDY) Price Target Increased to $300.00 by Analysts at DA Davidson

monday.com (NASDAQ:MNDY) had its price target lifted by research analysts at DA Davidson from $250.00 to $300.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential upside of 5.13% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Tigress Financial lifted their price objective 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. KeyCorp decreased their price objective on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird boosted their price target on shares of monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Wolfe Research began coverage on shares of monday.com in a report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $289.74.

monday.com Price Performance

Shares of NASDAQ:MNDY traded up $3.71 during midday trading on Wednesday, reaching $285.35. The company had a trading volume of 76,507 shares, compared to its average volume of 741,751. The stock has a market capitalization of $13.78 billion, a P/E ratio of 751.26, a PEG ratio of 13.58 and a beta of 1.32. The stock’s fifty day moving average price is $247.67 and its 200-day moving average price is $227.96. monday.com has a one year low of $122.13 and a one year high of $285.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. The firm had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. As a group, sell-side analysts forecast that monday.com will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC bought a new stake in monday.com in the first quarter valued at about $728,521,000. Baillie Gifford & Co. bought a new stake in monday.com during the 1st quarter worth approximately $76,534,000. Clearbridge Investments LLC increased its stake in monday.com by 2,851.5% during the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares in the last quarter. Eventide Asset Management LLC increased its stake in monday.com by 100.3% during the 4th quarter. Eventide Asset Management LLC now owns 407,870 shares of the company’s stock worth $76,602,000 after purchasing an additional 204,253 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares in 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.