monday.com (NASDAQ:MNDY) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of monday.com (NASDAQ:MNDY) in a report released on Friday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $292.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. TD Cowen boosted their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. DA Davidson restated a “neutral” rating and set a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. Piper Sandler dropped their target price on shares of monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Needham & Company LLC boosted their target price on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Canaccord Genuity Group boosted their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.48.

monday.com Trading Up 0.6 %

Shares of monday.com stock opened at $242.05 on Friday. The company’s fifty day simple moving average is $256.02 and its two-hundred day simple moving average is $259.64. The company has a market cap of $11.69 billion, a P/E ratio of 590.37, a PEG ratio of 5.41 and a beta of 1.30. monday.com has a 12-month low of $174.75 and a 12-month high of $324.99.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. Analysts predict that monday.com will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in monday.com by 1,024.7% during the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after acquiring an additional 434,035 shares during the period. Legal Advantage Investments Inc. purchased a new stake in shares of monday.com during the 4th quarter valued at about $235,000. Oak Ridge Investments LLC purchased a new stake in shares of monday.com during the 4th quarter valued at about $633,000. Channel Wealth LLC purchased a new stake in shares of monday.com during the 4th quarter valued at about $986,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of monday.com during the 4th quarter valued at about $241,000. 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.