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 released on Monday,Wall Street Zen reports.

MNDY has been the topic of several other research reports. Capital One Financial lowered monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research note on Monday, August 10th. Citigroup lowered their price target on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. JPMorgan Chase & Co. downgraded shares of monday.com from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $90.00 to $87.00 in a research report on Tuesday, September 29th. BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of monday.com in a research note on Monday, August 10th. Finally, Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $112.00 to $90.00 in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $111.70.

monday.com Stock Up 4.9%

monday.com stock opened at $82.66 on Monday. The firm has a market cap of $4.23 billion, a P/E ratio of 35.17, a P/E/G ratio of 1.78 and a beta of 1.14. The business has a fifty day moving average of $88.97 and a two-hundred day moving average of $79.48. monday.com has a twelve month low of $57.50 and a twelve month high of $210.49.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. Equities analysts expect that monday.com will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several institutional investors have recently added to or reduced their stakes in MNDY. SEB Asset Management AB acquired a new position in monday.com during the 1st quarter valued at approximately $1,639,000. Swiss National Bank lifted its stake in shares of monday.com by 28.6% during the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after buying an additional 35,400 shares during the period. Empowered Funds LLC lifted its stake in shares of monday.com by 4,194.6% during the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after buying an additional 14,094 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of monday.com during the first quarter valued at $1,534,000. Finally, Royal Bank of Canada grew its holdings in shares of monday.com by 88.7% during the first quarter. Royal Bank of Canada now owns 30,422 shares of the company’s stock valued at $2,102,000 after buying an additional 14,300 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.