monday.com (NASDAQ:MNDY) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

monday.com (NASDAQ:MNDY) had its target price hoisted by Needham & Company LLC from $300.00 to $350.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. DA Davidson reissued a “neutral” rating and issued a $300.00 price target on shares of monday.com in a report on Tuesday. Bank of America increased their target price on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Citigroup boosted their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Barclays increased their price objective on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Tigress Financial boosted their target price on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and a consensus target price of $310.10.

monday.com Price Performance

Shares of MNDY stock opened at $260.59 on Tuesday. The business has a 50-day moving average of $279.27 and a 200 day moving average of $247.35. monday.com has a 1-year low of $150.10 and a 1-year high of $324.99. The stock has a market capitalization of $12.58 billion, a PE ratio of 635.59, a P/E/G ratio of 12.91 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 5.15% and a net margin of 2.39%. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business’s revenue was up 49.5% on a year-over-year basis. Analysts anticipate that monday.com will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new position in monday.com in the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC bought a new stake in shares of monday.com in the 2nd quarter worth $45,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of monday.com during the second quarter valued at $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

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.