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

Zacks Research upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Tigress Financial increased their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d)” rating on shares of monday.com in a report on Thursday, January 22nd. UBS Group reduced their price objective on monday.com from $200.00 to $140.00 and set a “neutral” rating for the company in a report on Monday. JPMorgan Chase & Co. decreased their target price on monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, DA Davidson reduced their price target on monday.com from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, monday.com has an average rating of “Moderate Buy” and a consensus target price of $235.96.

monday.com Stock Up 3.0%

MNDY opened at $104.80 on Tuesday. monday.com has a 12-month low of $95.08 and a 12-month high of $342.64. The business has a 50 day moving average of $140.65 and a 200-day moving average of $177.66. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 85.20, a PEG ratio of 2.22 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.27. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The business had revenue of $316.86 million for the quarter, compared to analysts’ expectations of $312.26 million. During the same quarter in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, analysts expect that monday.com will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently bought and sold shares of the company. Spire Wealth Management boosted its position in shares of monday.com by 7.5% during the 2nd quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $193,000 after purchasing an additional 43 shares in the last quarter. CWM LLC raised its stake in monday.com by 31.3% during the 2nd quarter. CWM LLC now owns 210 shares of the company’s stock worth $66,000 after buying an additional 50 shares during the period. RFG Advisory LLC boosted its holdings in monday.com by 2.9% in the second quarter. RFG Advisory LLC now owns 1,958 shares of the company’s stock worth $616,000 after acquiring an additional 55 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in monday.com by 60.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $50,000 after acquiring an additional 60 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of monday.com by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after acquiring an additional 65 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.