DA Davidson Upgrades monday.com (NASDAQ:MNDY) to “Buy”

monday.com (NASDAQ:MNDY) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $350.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 36.79% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Finally, Piper Sandler boosted their price target on shares of monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $358.32.

monday.com Price Performance

monday.com stock opened at $255.87 on Monday. The firm has a market capitalization of $12.35 billion, a P/E ratio of 426.45, a PEG ratio of 16.53 and a beta of 1.27. monday.com has a one year low of $174.75 and a one year high of $342.64. The business has a fifty day moving average price of $265.97 and a 200-day moving average price of $269.63.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Sell-side analysts expect that monday.com will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ bought a new position in monday.com during the 4th quarter valued at approximately $1,905,000. Employees Retirement System of Texas purchased a new stake in monday.com in the fourth quarter worth $187,000. Polar Asset Management Partners Inc. purchased a new position in monday.com during the 4th quarter valued at $9,629,000. Mackenzie Financial Corp raised its holdings in monday.com by 18.2% in the 4th quarter. Mackenzie Financial Corp now owns 2,430 shares of the company’s stock worth $572,000 after purchasing an additional 374 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of monday.com by 12.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,436 shares of the company’s stock worth $27,649,000 after purchasing an additional 12,999 shares during the period. 73.70% of the stock is owned by institutional investors.

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.