monday.com (NASDAQ:MNDY) Price Target Raised to $340.00

monday.com (NASDAQ:MNDY) had its price target hoisted by Piper Sandler from $300.00 to $340.00 in a research report released on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

MNDY has been the subject of several other reports. Bank of America lifted their price target on shares of monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. KeyCorp cut their price target 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. Barclays lifted their price target on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. TD Cowen raised their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird raised their price objective on shares of monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, monday.com has a consensus rating of “Moderate Buy” and an average target price of $303.35.

monday.com Stock Performance

NASDAQ:MNDY opened at $282.52 on Monday. The company has a 50-day moving average of $268.86 and a 200-day moving average of $236.18. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 743.47, a PEG ratio of 13.68 and a beta of 1.32. monday.com has a 52 week low of $122.13 and a 52 week high of $293.88.

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

Institutional Investors Weigh In On monday.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. acquired a new stake in shares of monday.com in the 1st quarter valued at approximately $76,534,000. Clearbridge Investments LLC boosted its stake in shares of monday.com by 2,851.5% in the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock valued at $77,818,000 after purchasing an additional 332,852 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after purchasing an additional 313,279 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of monday.com by 171.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after purchasing an additional 172,919 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.