monday.com Ltd. (MNDY) – What Are Investment Firms Thinking About This Stock?

Shares of monday.com Ltd. (NASDAQ:MNDY) have earned an average recommendation of “Hold” from the twenty-five ratings firms that are presently covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $111.70.

Several analysts have weighed in on the company. Wolfe Research cut monday.com from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 11th. Piper Sandler reissued a “neutral” rating and issued a $90.00 price target on shares of monday.com in a research note on Monday, August 10th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 price objective on shares of monday.com in a research note on Monday, August 10th. Weiss Ratings upgraded shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of monday.com in a research report on Tuesday, August 11th.

Institutional Trading of monday.com

Hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its position in shares of monday.com by 60.2% during the second quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company’s stock valued at $457,000 after acquiring an additional 2,373 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of monday.com by 29.5% in the 2nd quarter. Engineers Gate Manager LP now owns 38,981 shares of the company’s stock worth $2,822,000 after purchasing an additional 8,891 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in monday.com in the second quarter worth approximately $5,098,000. Public Employees Retirement System of Ohio bought a new position in monday.com in the 2nd quarter worth $970,000. Finally, Plato Investment Management Ltd bought a new position in shares of monday.com in the second quarter worth about $432,000. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

NASDAQ:MNDY opened at $93.42 on Tuesday. monday.com has a 1 year low of $57.50 and a 1 year high of $210.49. The stock’s fifty day moving average price is $88.66 and its two-hundred day moving average price is $80.66. The company has a market cap of $4.78 billion, a P/E ratio of 39.75, a P/E/G ratio of 2.04 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last posted its 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 business had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, analysts expect that monday.com will post 2.34 earnings per share for the current fiscal year.

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.