monday.com (NASDAQ:MNDY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other research analysts have also issued reports on MNDY. Wells Fargo & Company reduced their target price on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Tigress Financial lowered their price target on shares of monday.com to $165.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a research report on Tuesday, September 8th. BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of monday.com in a research note on Monday, August 10th. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of monday.com in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Stock Performance

monday.com stock opened at $87.96 on Friday. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $220.80. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 1.99 and a beta of 1.15. The stock has a fifty day moving average of $88.14 and a two-hundred day moving average of $79.12.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.37. The business had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. On average, analysts forecast that monday.com will post 2.25 EPS for the current fiscal year.

Institutional Trading of monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of monday.com by 91.4% during the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after acquiring an additional 1,569,198 shares during the period. Renaissance Technologies LLC grew its holdings in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the period. Norges Bank acquired a new position in monday.com during the fourth quarter worth approximately $79,789,000. Geode Capital Management LLC increased its position in monday.com by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 438,076 shares of the company’s stock worth $64,295,000 after purchasing an additional 42,655 shares during the last quarter. Finally, Ibex Investors LLC raised its stake in monday.com by 56.7% during the fourth quarter. Ibex Investors LLC now owns 282,000 shares of the company’s stock worth $41,612,000 after purchasing an additional 102,000 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.