monday.com (NASDAQ:MNDY) Sets New 12-Month High at $272.85

monday.com Ltd. (NASDAQ:MNDY) shares reached a new 52-week high during trading on Thursday . The company traded as high as $272.85 and last traded at $271.48, with a volume of 42378 shares trading hands. The stock had previously closed at $261.17.

Wall Street Analysts Forecast Growth

MNDY has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. TD Cowen upped their price target on monday.com from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Barclays raised their price objective on monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Bank of America boosted their target price on monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Robert W. Baird raised their price target on monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $285.79.

monday.com Trading Up 5.6 %

The business’s 50 day simple moving average is $244.12 and its two-hundred day simple moving average is $226.40. The firm has a market capitalization of $13.31 billion, a PE ratio of 687.29, a price-to-earnings-growth ratio of 12.23 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The company had revenue of $236.11 million during the quarter, compared to analyst estimates of $227.96 million. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new position in monday.com in the second quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC raised its holdings in monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in monday.com by 2.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock valued at $65,000 after purchasing an additional 691 shares during the period. Opal Wealth Advisors LLC purchased a new stake in monday.com in the second quarter worth about $69,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after buying an additional 310 shares during the period. 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.