JPMorgan Chase & Co. Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $350.00 to $400.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 22.48% from the company’s current price.

MNDY has been the subject of a number of other research reports. Oppenheimer raised their price target 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. Needham & Company LLC lifted their target price on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity Group upped their price target on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald started coverage on monday.com in a research report on Friday, January 17th. They issued an “overweight” rating and a $292.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $332.50.

monday.com Stock Performance

Shares of MNDY opened at $326.58 on Tuesday. The company has a market cap of $15.77 billion, a price-to-earnings ratio of 796.54, a PEG ratio of 7.67 and a beta of 1.31. The stock has a fifty day moving average price of $250.37 and a two-hundred day moving average price of $262.04. monday.com has a 52-week low of $174.75 and a 52-week high of $342.64.

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

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in monday.com in the 4th quarter worth $25,000. Arcadia Investment Management Corp MI acquired a new stake in shares of monday.com in the 4th quarter valued at about $28,000. R Squared Ltd bought a new stake in shares of monday.com in the fourth quarter valued at about $33,000. Signaturefd LLC boosted its position in shares of monday.com by 157.1% during the fourth quarter. Signaturefd LLC now owns 144 shares of the company’s stock worth $34,000 after buying an additional 88 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of monday.com by 64.8% during the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after buying an additional 59 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.