monday.com (NASDAQ:MNDY) Stock Lifted to “Buy” by 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 sent to investors on Sunday,Wall Street Zen reports.

A number of other analysts have also recently commented on MNDY. JPMorgan Chase & Co. cut monday.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $87.00 in a research report on Tuesday, September 29th. Weiss Ratings raised shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 15th. UBS Group reissued a “buy” rating on shares of monday.com in a research report on Tuesday, October 27th. Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $112.00 to $90.00 in a report on Monday, August 10th. Finally, BTIG Research reissued a “buy” rating and set a $105.00 price target on shares of monday.com in a research note on Thursday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $111.70.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $95.60 on Friday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.16 and a beta of 1.06. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $210.49. The business has a 50-day moving average of $90.78 and a 200-day moving average of $83.99.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. On average, sell-side analysts expect that monday.com will post 2.34 EPS for the current year.

Insider Transactions at monday.com

In related news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total transaction of $200,080.00. Following the sale, the director owned 203,455 shares of the company’s stock, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake 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 acquiring an additional 1,052,900 shares in the last quarter. RPD Fund Management LLC acquired a new position in shares of monday.com during the 1st quarter worth about $17,529,000. Bank of America Corp DE grew its position in monday.com by 33.6% during the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock worth $13,451,000 after purchasing an additional 49,002 shares during the last quarter. Swiss National Bank raised its position in monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after acquiring an additional 35,400 shares in the last quarter. Finally, Ardmore Road Asset Management LP raised its position in shares of monday.com by 18.1% during the 1st quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company’s stock worth $8,203,000 after purchasing an additional 18,234 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.