monday.com (NASDAQ:MNDY) Stock Rating Upgraded by Zacks Research

monday.com (NASDAQ:MNDY) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Guggenheim restated a “buy” rating on shares of monday.com in a research report on Friday, January 16th. JPMorgan Chase & Co. lowered their target price on monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Barclays dropped their price target on monday.com from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Wells Fargo & Company decreased their price objective on monday.com from $260.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Jefferies Financial Group lowered their price objective on monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.96.

monday.com Price Performance

Shares of monday.com stock opened at $104.80 on Tuesday. The business has a fifty day simple moving average of $140.65 and a two-hundred day simple moving average of $177.66. monday.com has a 1 year low of $95.08 and a 1 year high of $342.64. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 85.20, a P/E/G ratio of 2.22 and a beta of 1.25.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC grew its stake in monday.com by 2.8% during the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock worth $843,519,000 after buying an additional 115,353 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of monday.com by 9.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock worth $576,442,000 after acquiring an additional 150,987 shares during the period. Capital World Investors boosted its position in shares of monday.com by 231.2% during the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after acquiring an additional 1,198,761 shares in the last quarter. SG Americas Securities LLC increased its stake in monday.com by 110.9% in the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after acquiring an additional 490,491 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in monday.com by 2.2% during the fourth quarter. Baillie Gifford & Co. now owns 723,655 shares of the company’s stock valued at $106,783,000 after purchasing an additional 15,377 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

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.