monday.com (NASDAQ:MNDY) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of monday.com (NASDAQ:MNDY) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $350.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company raised their price objective on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, November 4th. KeyCorp cut monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Canaccord Genuity Group boosted their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. TD Cowen raised their target price on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Tigress Financial raised their price objective on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.62.

monday.com Stock Down 1.7 %

Shares of NASDAQ MNDY traded down $3.96 during midday trading on Wednesday, hitting $228.03. 290,539 shares of the company’s stock were exchanged, compared to its average volume of 739,086. monday.com has a 12 month low of $170.00 and a 12 month high of $324.99. The company’s 50 day moving average price is $284.33 and its 200 day moving average price is $258.70. The firm has a market capitalization of $11.01 billion, a PE ratio of 556.17, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter last year, the company posted $0.15 EPS. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. On average, equities research analysts anticipate that monday.com will post 0.85 EPS for the current year.

Institutional Trading of monday.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of monday.com in the 3rd quarter valued at $1,667,000. International Assets Investment Management LLC bought a new position in monday.com in the third quarter worth $21,989,000. Taylor Frigon Capital Management LLC purchased a new position in monday.com during the third quarter valued at $1,311,000. Jennison Associates LLC boosted its holdings in shares of monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of monday.com by 20.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 72,564 shares of the company’s stock worth $17,471,000 after buying an additional 12,460 shares during the period. 73.70% of the stock is currently owned by hedge funds and other 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.