Robert W. Baird Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target hoisted by Robert W. Baird from $265.00 to $270.00 in a research report report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other research analysts also recently commented on the stock. Wells Fargo & Company lifted their target price 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. Canaccord Genuity Group boosted their price objective on monday.com from $250.00 to $295.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Loop Capital raised their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. DA Davidson upped their price target on monday.com from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their price objective on monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.10.

monday.com Stock Performance

MNDY opened at $262.89 on Tuesday. The company has a market cap of $12.69 billion, a PE ratio of 641.20, a price-to-earnings-growth ratio of 12.55 and a beta of 1.31. The stock has a 50-day moving average of $280.53 and a 200-day moving average of $248.14. monday.com has a 52-week low of $166.86 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company’s revenue was up 49.5% on a year-over-year basis. On average, research analysts predict that monday.com will post 0.5 earnings per share for the current year.

Institutional Trading of monday.com

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the third quarter valued at $43,000. Ridgewood Investments LLC acquired a new stake in shares of monday.com during the 2nd quarter worth about $45,000. Gilliland Jeter Wealth Management LLC lifted its holdings in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in monday.com in the second quarter valued at about $69,000. Finally, Industrial Alliance Investment Management Inc. grew its stake in monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after buying an additional 356 shares during the last quarter. Institutional investors and hedge funds 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.