monday.com (NASDAQ:MNDY) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of monday.com (NASDAQ:MNDY) in a report released on Tuesday, Benzinga reports. They currently have a $230.00 price target on the stock.

MNDY has been the topic of a number of other research reports. Wells Fargo & Company assumed coverage on shares of monday.com in a report on Tuesday, April 9th. They issued an overweight rating and a $260.00 price objective on the stock. Jefferies Financial Group raised monday.com from a hold rating to a buy rating and increased their price target for the company from $180.00 to $230.00 in a report on Friday, January 5th. JPMorgan Chase & Co. lifted their price objective on monday.com from $230.00 to $270.00 and gave the stock an overweight rating in a report on Monday, March 25th. Oppenheimer raised their price target on shares of monday.com from $220.00 to $240.00 and gave the stock an outperform rating in a research report on Tuesday, February 13th. Finally, Citigroup cut shares of monday.com from a buy rating to a neutral rating and cut their price target for the company from $277.00 to $250.00 in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $240.00.

monday.com Stock Performance

Shares of MNDY stock traded down $1.45 during trading hours on Tuesday, reaching $185.48. The company had a trading volume of 486,177 shares, compared to its average volume of 799,783. The company has a market capitalization of $8.95 billion, a P/E ratio of -2,670.05 and a beta of 1.24. monday.com has a twelve month low of $109.58 and a twelve month high of $239.22. The stock’s fifty day simple moving average is $210.21 and its 200 day simple moving average is $190.89.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company had revenue of $202.60 million during the quarter, compared to the consensus estimate of $197.97 million. During the same quarter last year, the company earned ($0.03) earnings per share. monday.com’s revenue for the quarter was up 35.5% on a year-over-year basis. As a group, equities analysts expect that monday.com will post -0.16 earnings per share for the current year.

Institutional Trading of monday.com

Several hedge funds have recently made changes to their positions in MNDY. Desjardins Global Asset Management Inc. increased its position in monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after buying an additional 91 shares during the period. Crewe Advisors LLC increased its holdings in shares of monday.com by 44.9% in the 3rd quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the period. Arlington Partners LLC lifted its position in monday.com by 104.1% in the 3rd quarter. Arlington Partners LLC now owns 247 shares of the company’s stock valued at $39,000 after purchasing an additional 126 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in monday.com during the 3rd quarter valued at about $48,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in monday.com by 2.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock valued at $65,000 after purchasing an additional 691 shares during the period. Institutional investors own 73.70% of the company’s stock.

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.