monday.com’s (MNDY) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of monday.com (NASDAQ:MNDY) in a research report report published on Thursday,Benzinga reports. They currently have a $105.00 price target on the stock.

A number of other equities analysts have also recently issued reports on MNDY. Capital One Financial cut shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report 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 research report on Tuesday, August 11th. Piper Sandler reissued a “neutral” rating and set a $90.00 price objective on shares of monday.com in a research note on Monday, August 10th. Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $112.00 to $90.00 in a research note on Monday, August 10th. Finally, Zacks Research downgraded monday.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, monday.com has an average rating of “Moderate Buy” and an average price target of $111.70.

monday.com Stock Performance

monday.com stock opened at $95.60 on Thursday. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $210.49. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 2.16 and a beta of 1.14. The stock’s fifty day moving average is $90.78 and its two-hundred day moving average is $83.99.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The business had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. During the same quarter in the previous year, the company posted $1.09 EPS. The business’s revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts forecast that monday.com will post 2.34 EPS for the current fiscal year.

Insider Transactions at monday.com

In related news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were 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 in the company, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MNDY. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of monday.com during the 3rd quarter worth about $1,517,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of monday.com in the third quarter worth approximately $240,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in monday.com by 18.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 83,164 shares of the company’s stock valued at $6,525,000 after purchasing an additional 12,738 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in monday.com in the third quarter valued at approximately $201,000. Finally, Signaturefd LLC grew its holdings in monday.com by 28.3% in the third quarter. Signaturefd LLC now owns 4,469 shares of the company’s stock valued at $351,000 after purchasing an additional 987 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Company Profile

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.