monday.com (NASDAQ:MNDY) Given New $315.00 Price Target at Scotiabank

monday.com (NASDAQ:MNDY) had its price target cut by Scotiabank from $400.00 to $315.00 in a report published on Monday,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other analysts also recently commented on the stock. William Blair restated an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Piper Sandler boosted their target price on shares of monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Canaccord Genuity Group boosted their target price on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Barclays boosted their target price on shares of monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, DA Davidson upgraded shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.45.

monday.com Trading Up 3.9 %

MNDY stock opened at $265.73 on Monday. monday.com has a 52 week low of $174.75 and a 52 week high of $342.64. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 442.88, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The firm’s 50-day moving average is $266.54 and its two-hundred day moving average is $269.65.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, equities research analysts predict that monday.com will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. grew its position in monday.com by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock worth $18,525,000 after acquiring an additional 2,085 shares in the last quarter. CIBC Asset Management Inc grew its position in monday.com by 6.1% in the third quarter. CIBC Asset Management Inc now owns 3,512 shares of the company’s stock worth $976,000 after acquiring an additional 202 shares in the last quarter. Natixis Advisors LLC grew its position in monday.com by 11.9% in the third quarter. Natixis Advisors LLC now owns 60,834 shares of the company’s stock worth $16,898,000 after acquiring an additional 6,488 shares in the last quarter. Swiss National Bank grew its position in monday.com by 2.2% in the third quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $30,944,000 after acquiring an additional 2,400 shares in the last quarter. Finally, LMR Partners LLP grew its position in monday.com by 11.8% in the third quarter. LMR Partners LLP now owns 55,912 shares of the company’s stock worth $15,531,000 after acquiring an additional 5,912 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.