Piper Sandler Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target upped by Piper Sandler from $345.00 to $385.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 13.19% from the company’s previous close.

A number of other equities analysts also recently issued reports on MNDY. Needham & Company LLC increased their price target on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. KeyCorp downgraded shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price target on shares of monday.com in a research report on Tuesday, November 12th. Oppenheimer lifted their price objective on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $312.50.

monday.com Trading Up 31.7 %

Shares of NASDAQ MNDY traded up $81.89 during mid-day trading on Monday, reaching $340.13. The company had a trading volume of 4,415,759 shares, compared to its average volume of 1,089,979. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 829.49, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. monday.com has a 52 week low of $174.75 and a 52 week high of $342.64. The business’s 50-day moving average is $249.33 and its 200-day moving average is $261.41.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. As a group, equities research analysts forecast that monday.com will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in monday.com during the second quarter valued at $285,000. Inspire Investing LLC acquired a new stake in shares of monday.com during the 3rd quarter valued at about $870,000. Sapient Capital LLC acquired a new stake in shares of monday.com during the 3rd quarter valued at about $1,282,000. Chicago Capital LLC raised its holdings in monday.com by 18.9% in the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock worth $499,000 after purchasing an additional 285 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares in the last quarter. 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.