monday.com (NASDAQ:MNDY) Rating Increased to Strong-Buy at Scotiabank

Scotiabank upgraded shares of monday.com (NASDAQ:MNDY) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Robert W. Baird raised their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. TD Cowen lifted their target price on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Piper Sandler boosted their price objective on shares of monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Loop Capital increased their price target on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Stock Up 6.2 %

NASDAQ MNDY opened at $276.26 on Monday. The firm has a 50-day moving average price of $281.56 and a two-hundred day moving average price of $250.20. monday.com has a 12-month low of $170.00 and a 12-month high of $324.99. The company has a market capitalization of $13.34 billion, a P/E ratio of 673.80, a P/E/G ratio of 7.16 and a beta of 1.31.

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

Hedge Funds Weigh In On monday.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quent Capital LLC acquired a new stake in shares of monday.com during the 1st quarter worth about $565,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of monday.com by 4.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,422 shares of the company’s stock valued at $3,257,000 after purchasing an additional 603 shares during the period. Vanguard Group Inc. increased its holdings in shares of monday.com by 12.9% in the first quarter. Vanguard Group Inc. now owns 45,682 shares of the company’s stock valued at $10,318,000 after purchasing an additional 5,229 shares during the period. Bessemer Group Inc. purchased a new stake in shares of monday.com in the first quarter valued at approximately $1,314,000. Finally, American International Group Inc. boosted its stake in shares of monday.com by 2.3% in the first quarter. American International Group Inc. now owns 4,550 shares of the company’s stock valued at $1,028,000 after buying an additional 102 shares in the last quarter. Hedge funds and other 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.