monday.com Ltd. (NASDAQ:MNDY) Receives $255.83 Consensus PT from Analysts

Shares of monday.com Ltd. (NASDAQ:MNDY) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $255.83.

Several research firms recently weighed in on MNDY. KeyCorp reduced their target price on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 target price on shares of monday.com in a research note on Monday, June 17th. Piper Sandler reiterated an “overweight” rating and issued a $270.00 target price on shares of monday.com in a research note on Friday. Oppenheimer increased their price target on shares of monday.com from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, Barclays initiated coverage on shares of monday.com in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $275.00 price target for the company.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC acquired a new stake in shares of monday.com in the first quarter valued at approximately $728,521,000. Price T Rowe Associates Inc. MD boosted its stake in monday.com by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock valued at $714,781,000 after acquiring an additional 31,304 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in monday.com by 12.1% in the fourth quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock valued at $161,573,000 after acquiring an additional 92,600 shares during the last quarter. Jennison Associates LLC boosted its stake in monday.com by 12.1% in the first quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock valued at $176,665,000 after acquiring an additional 84,182 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in monday.com by 33.0% in the first quarter. Westfield Capital Management Co. LP now owns 415,584 shares of the company’s stock valued at $93,868,000 after acquiring an additional 103,094 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Price Performance

MNDY stock opened at $231.58 on Wednesday. monday.com has a 52-week low of $122.13 and a 52-week high of $251.48. The company has a 50-day moving average of $224.95 and a two-hundred day moving average of $213.09. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 609.42, a price-to-earnings-growth ratio of 46.92 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last released its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.25. monday.com had a net margin of 2.53% and a return on equity of 2.42%. The business had revenue of $216.91 million during the quarter, compared to analysts’ expectations of $210.33 million. Equities analysts expect that monday.com will post 0.12 EPS for the current fiscal year.

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.