monday.com (NASDAQ:MNDY) Rating Reiterated by Needham & Company LLC

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $230.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 21.08% from the company’s previous close.

MNDY has been the subject of several other reports. Oppenheimer raised their target price on monday.com from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. raised their target price on monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Wells Fargo & Company initiated coverage on monday.com in a report on Tuesday, April 9th. They set an “overweight” rating and a $260.00 price objective for the company. DA Davidson reissued a “neutral” rating and set a $190.00 price objective on shares of monday.com in a report on Tuesday, February 13th. Finally, Canaccord Genuity Group cut their price objective on monday.com from $250.00 to $220.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.00.

monday.com Price Performance

Shares of MNDY stock opened at $189.95 on Tuesday. The stock has a market cap of $9.17 billion, a P/E ratio of -2,713.57 and a beta of 1.18. monday.com has a one year low of $108.35 and a one year high of $239.22. The stock has a fifty day moving average price of $210.99 and a 200 day moving average price of $190.92.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. The firm had revenue of $202.60 million during the quarter, compared to analysts’ expectations of $197.97 million. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. monday.com’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same period last year, the business earned ($0.03) earnings per share. Equities research analysts anticipate that monday.com will post -0.16 EPS for the current year.

Institutional Trading of monday.com

Several hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. bought a new stake in shares of monday.com during the first quarter valued at approximately $76,534,000. Norden Group LLC bought a new stake in shares of monday.com during the first quarter valued at approximately $840,000. Van ECK Associates Corp grew its stake in shares of monday.com by 4.7% during the first quarter. Van ECK Associates Corp now owns 8,764 shares of the company’s stock valued at $1,980,000 after purchasing an additional 391 shares during the last quarter. Fortis Group Advisors LLC bought a new stake in shares of monday.com during the first quarter valued at approximately $529,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of monday.com by 4,419.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 60,104 shares of the company’s stock valued at $13,576,000 after purchasing an additional 58,774 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

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.