monday.com (NASDAQ:MNDY) Rating Reiterated by Needham & Company LLC

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $300.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 6.88% from the company’s current price.

Several other research analysts have also recently issued reports on the company. DA Davidson lifted their target price on monday.com from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group upped their price objective on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. KeyCorp decreased their price target on monday.com from $280.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Loop Capital raised their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group increased their price target on shares of monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.79.

monday.com Price Performance

Shares of MNDY opened at $280.70 on Thursday. monday.com has a one year low of $122.13 and a one year high of $285.64. The company has a market cap of $13.55 billion, a PE ratio of 738.68, a P/E/G ratio of 13.58 and a beta of 1.32. The stock has a 50-day moving average of $248.68 and a 200-day moving average of $228.33.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The firm had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. Analysts expect that monday.com will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in monday.com in the second quarter valued at approximately $28,747,000. Sanctuary Advisors LLC purchased a new position in shares of monday.com during the second quarter worth approximately $285,000. Truist Financial Corp raised its stake in shares of monday.com by 4.1% during the second quarter. Truist Financial Corp now owns 4,993 shares of the company’s stock worth $1,202,000 after acquiring an additional 195 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of monday.com by 23.0% during the second quarter. Mackenzie Financial Corp now owns 1,981 shares of the company’s stock worth $477,000 after acquiring an additional 371 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of monday.com by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 12,355 shares of the company’s stock worth $2,975,000 after acquiring an additional 2,023 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.