monday.com (NASDAQ:MNDY) Price Target Raised to $265.00

monday.com (NASDAQ:MNDY) had its price target lifted by Robert W. Baird from $250.00 to $265.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently issued reports on MNDY. Piper Sandler restated an overweight rating and issued a $300.00 price objective (up from $270.00) on shares of monday.com in a research report on Monday, August 12th. Needham & Company LLC boosted their target price on shares of monday.com from $250.00 to $300.00 and gave the company a buy rating in a research note on Monday, August 12th. Oppenheimer raised their price target on shares of monday.com from $240.00 to $250.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Barclays initiated coverage on shares of monday.com in a report on Wednesday, June 26th. They set an overweight rating and a $275.00 price target for the company. Finally, Wolfe Research started coverage on shares of monday.com in a research note on Tuesday, July 9th. They set an outperform rating and a $300.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, monday.com presently has an average rating of Moderate Buy and a consensus price target of $282.63.

monday.com Price Performance

MNDY stock opened at $263.38 on Tuesday. The company’s 50 day simple moving average is $232.24 and its 200-day simple moving average is $219.93. monday.com has a 12 month low of $122.13 and a 12 month high of $265.97. The firm has a market capitalization of $12.72 billion, a PE ratio of 693.11, a P/E/G ratio of 43.41 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last posted its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. The firm had revenue of $216.91 million for the quarter, compared to analyst estimates of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. As a group, sell-side analysts anticipate that monday.com will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Sei Investments Co. increased its stake in monday.com by 63.9% during the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after acquiring an additional 41,840 shares during the last quarter. Raymond James & Associates raised its holdings in monday.com by 55.2% in the fourth quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock valued at $2,352,000 after buying an additional 4,457 shares during the period. M&G Investment Management Ltd. lifted its position in monday.com by 8.5% during the fourth quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company’s stock valued at $9,089,000 after buying an additional 3,796 shares in the last quarter. Norden Group LLC purchased a new stake in monday.com during the first quarter worth approximately $840,000. Finally, Boulder Hill Capital Management LP purchased a new stake in monday.com during the fourth quarter worth approximately $2,197,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.