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

monday.com (NASDAQ:MNDY) had its price objective raised by Barclays from $325.00 to $360.00 in a report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

MNDY has been the topic of a number of other research reports. Needham & Company LLC raised their price target on monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler lifted their target price on monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird lifted their target price on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Scotiabank lifted their target price on monday.com from $300.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $353.32.

monday.com Price Performance

Shares of monday.com stock opened at $320.33 on Tuesday. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 781.29, a P/E/G ratio of 7.67 and a beta of 1.31. The business has a fifty day simple moving average of $252.51 and a two-hundred day simple moving average of $263.46. monday.com has a 1 year low of $174.75 and a 1 year high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 analysts anticipate that monday.com will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

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

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.