Scotiabank Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price increased by Scotiabank from $300.00 to $400.00 in a research note released on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other analysts also recently commented on MNDY. Canaccord Genuity Group increased their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on shares of monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer increased 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. JPMorgan Chase & Co. increased their price objective on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Cantor Fitzgerald started coverage on shares of monday.com in a report on Friday, January 17th. They issued an “overweight” rating and a $292.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.32.

monday.com Stock Up 0.4 %

Shares of monday.com stock opened at $327.92 on Tuesday. The business has a 50-day moving average price of $251.31 and a 200 day moving average price of $262.68. monday.com has a twelve month low of $174.75 and a twelve month high of $342.64. The firm has a market cap of $15.83 billion, a PE ratio of 799.80, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results 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%. On average, sell-side analysts expect that monday.com will post 0.85 EPS for the current year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TIAA Trust National Association purchased a new position in monday.com in the 4th quarter valued at approximately $11,893,000. Prudential Financial Inc. boosted its position in monday.com by 1.3% in the 4th quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock valued at $970,000 after buying an additional 53 shares during the period. Vanguard Group Inc. boosted its position in monday.com by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 69,888 shares of the company’s stock valued at $16,454,000 after buying an additional 1,426 shares during the period. LPL Financial LLC lifted its position in shares of monday.com by 10.2% during the 4th quarter. LPL Financial LLC now owns 17,405 shares of the company’s stock worth $4,098,000 after purchasing an additional 1,605 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of monday.com during the 4th quarter worth $292,000. Hedge funds and other 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.