monday.com’s (MNDY) Buy Rating Reiterated at TD Cowen

TD Cowen reiterated their buy rating on shares of monday.com (NASDAQ:MNDY) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $110.00 price target on the stock.

Several other brokerages have also recently commented on MNDY. Citigroup lowered their target price on shares of monday.com from $176.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Tigress Financial reduced their price target on monday.com to $165.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of monday.com in a research note on Thursday, June 11th. Canaccord Genuity Group lowered their price objective on monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $105.00 price objective on shares of monday.com in a report on Monday. Fourteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.91.

monday.com Stock Performance

MNDY stock opened at $94.29 on Tuesday. monday.com has a 52 week low of $57.50 and a 52 week high of $220.80. The company has a market capitalization of $4.82 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The company’s 50-day simple moving average is $80.67 and its 200 day simple moving average is $78.52.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 8.10%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS. On average, analysts forecast that monday.com will post 2.09 EPS for the current year.

Institutional Trading of monday.com

A number of institutional investors and hedge funds have recently made changes to their positions in MNDY. Plato Investment Management Ltd acquired a new stake in shares of monday.com during the 2nd quarter worth approximately $432,000. S&CO Inc. bought a new position in monday.com in the second quarter valued at approximately $786,000. Fulton Bank N.A. raised its position in monday.com by 5.1% during the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock valued at $242,000 after purchasing an additional 162 shares in the last quarter. Evanson Financial LLC acquired a new position in monday.com during the second quarter valued at approximately $219,000. Finally, AMS Capital Ltda lifted its stake in monday.com by 144.4% during the first quarter. AMS Capital Ltda now owns 67,172 shares of the company’s stock worth $4,642,000 after purchasing an additional 39,692 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.