monday.com (NASDAQ:MNDY) Upgraded to “Buy” at Citigroup

Citigroup upgraded shares of monday.com (NASDAQ:MNDY) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat.com reports. The brokerage currently has $298.00 price objective on the stock, down from their previous price objective of $302.00.

MNDY has been the topic of several other research reports. Capital One Financial initiated coverage on shares of monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price on the stock. Piper Sandler decreased their target price on monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Needham & Company LLC boosted their target price on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital lowered their price objective on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Barclays lifted their target price on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.48.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $242.05 on Thursday. The stock has a 50 day moving average price of $256.02 and a 200-day moving average price of $259.53. The firm has a market capitalization of $11.69 billion, a P/E ratio of 590.37, a P/E/G ratio of 5.41 and a beta of 1.30. monday.com has a 52-week low of $174.75 and a 52-week high of $324.99.

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

Hedge Funds Weigh In On monday.com

Large investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of monday.com by 1,024.7% during the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after purchasing an additional 434,035 shares in the last quarter. Jennison Associates LLC boosted its holdings in monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after buying an additional 170,800 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.