Canaccord Genuity Group Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective raised by Canaccord Genuity Group from $310.00 to $375.00 in a report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird lifted their target price on monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays boosted their price target on monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald assumed coverage on monday.com in a research report on Friday, January 17th. They issued an “overweight” rating and a $292.00 target price on the stock. DA Davidson lifted their target price on monday.com from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Scotiabank lifted their target price on monday.com from $300.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $353.32.

monday.com Price Performance

Shares of monday.com stock opened at $327.92 on Tuesday. The business has a fifty day simple moving average of $251.31 and a two-hundred day simple moving average of $262.68. monday.com has a 1 year low of $174.75 and a 1 year high of $342.64. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 799.80, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. As a group, equities analysts anticipate that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several institutional investors have recently bought and sold shares of the stock. TIAA Trust National Association bought a new stake in monday.com during the fourth quarter worth $11,893,000. Prudential Financial Inc. grew its holdings in monday.com by 1.3% during the fourth quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock worth $970,000 after buying an additional 53 shares in the last quarter. Vanguard Group Inc. grew its holdings in monday.com by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 69,888 shares of the company’s stock worth $16,454,000 after buying an additional 1,426 shares in the last quarter. LPL Financial LLC grew its holdings in monday.com by 10.2% during the fourth quarter. LPL Financial LLC now owns 17,405 shares of the company’s stock worth $4,098,000 after buying an additional 1,605 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in monday.com during the fourth quarter worth $292,000. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.