Piper Sandler Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price target raised by Piper Sandler from $340.00 to $350.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

MNDY has been the topic of several other research reports. Tigress Financial raised their price objective on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upped their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup increased their target price on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital upped their price target on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, TD Cowen increased their price objective on monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $310.10.

monday.com Stock Performance

monday.com stock opened at $268.90 on Monday. The firm’s 50 day moving average price is $280.09 and its two-hundred day moving average price is $247.65. The firm has a market cap of $12.98 billion, a PE ratio of 655.85, a P/E/G ratio of 12.15 and a beta of 1.31. monday.com has a twelve month low of $162.06 and a twelve month high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 5.15% and a net margin of 2.39%. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period last year, the company earned $0.15 earnings per share. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. Equities analysts anticipate that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Trading of monday.com

A number of hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its stake in shares of monday.com by 63.9% in the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock valued at $24,243,000 after purchasing an additional 41,840 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of monday.com in the 1st quarter valued at $1,314,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of monday.com in the 3rd quarter valued at $1,667,000. International Assets Investment Management LLC acquired a new stake in shares of monday.com during the 3rd quarter valued at about $21,989,000. Finally, Swiss National Bank boosted its position in shares of monday.com by 4.1% during the 1st quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after acquiring an additional 3,400 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

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.