Brokerages Set monday.com Ltd. (NASDAQ:MNDY) Price Target at $309.14

monday.com Ltd. (NASDAQ:MNDY) has earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $309.14.

A number of brokerages have issued reports on MNDY. Robert W. Baird boosted their price target on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. TD Cowen upped their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Capital One Financial initiated coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price on the stock. Citigroup reduced their price target on shares of monday.com from $338.00 to $302.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. boosted its stake in monday.com by 4.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock worth $314,000 after purchasing an additional 50 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of monday.com by 25.5% in the second quarter. Commonwealth Equity Services LLC now owns 4,033 shares of the company’s stock worth $971,000 after buying an additional 820 shares during the period. Van ECK Associates Corp grew its holdings in shares of monday.com by 48.8% during the second quarter. Van ECK Associates Corp now owns 13,039 shares of the company’s stock valued at $3,139,000 after buying an additional 4,275 shares in the last quarter. Natixis Advisors LLC raised its position in monday.com by 3.9% during the second quarter. Natixis Advisors LLC now owns 54,346 shares of the company’s stock valued at $13,084,000 after buying an additional 2,031 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in monday.com by 33.1% in the 2nd quarter. CIBC Asset Management Inc now owns 3,310 shares of the company’s stock worth $797,000 after acquiring an additional 824 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $235.25 on Wednesday. The firm has a market capitalization of $11.36 billion, a PE ratio of 573.78, a P/E/G ratio of 7.61 and a beta of 1.25. monday.com has a 1-year low of $170.00 and a 1-year high of $324.99. The business’s fifty day moving average price is $271.21 and its two-hundred day moving average price is $259.37.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s quarterly revenue was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Equities research analysts expect that monday.com will post 0.85 earnings per share 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.