monday.com (NASDAQ:MNDY) Stock Price Expected to Rise, Piper Sandler Analyst Says

monday.com (NASDAQ:MNDY) had its target price upped by Piper Sandler from $340.00 to $350.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Loop Capital lifted their price objective on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Capital One Financial began coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. DA Davidson upped their target price on monday.com from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group upped their price objective on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Bank of America increased their price target on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $309.35.

monday.com Stock Up 1.3 %

Shares of MNDY stock opened at $278.88 on Monday. The stock has a market cap of $13.46 billion, a P/E ratio of 344.01, a P/E/G ratio of 15.22 and a beta of 1.31. The business has a fifty day simple moving average of $279.07 and a 200-day simple moving average of $246.86. monday.com has a fifty-two week low of $150.10 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The firm had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. On average, sell-side analysts anticipate that monday.com will post 0.5 earnings per share for the current year.

Institutional Trading of monday.com

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC grew its position in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after buying an additional 318,837 shares during the period. Avior Wealth Management LLC grew its stake in shares of monday.com by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock worth $725,000 after acquiring an additional 67 shares during the period. PNC Financial Services Group Inc. lifted its holdings in monday.com by 6.7% in the third quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $2,111,000 after acquiring an additional 479 shares during the period. Pathstone Holdings LLC lifted its stake in shares of monday.com by 22.3% in the 3rd quarter. Pathstone Holdings LLC now owns 18,249 shares of the company’s stock worth $5,069,000 after purchasing an additional 3,332 shares during the period. Finally, LMR Partners LLP boosted its holdings in shares of monday.com by 11.8% in the third quarter. LMR Partners LLP now owns 55,912 shares of the company’s stock worth $15,531,000 after buying an additional 5,912 shares during the last quarter. Hedge funds and other 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.