monday.com (NASDAQ:MNDY) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

MNDY has been the topic of several other research reports. Oppenheimer set a $115.00 price objective on monday.com in a research note on Monday, May 11th. Cantor Fitzgerald lowered shares of monday.com from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $90.00 in a report on Monday. UBS Group raised their target price on shares of monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday. Tigress Financial decreased their target price on shares of monday.com to $165.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $105.00 price target on shares of monday.com in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.91.

monday.com Price Performance

Shares of MNDY stock opened at $94.29 on Wednesday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 40.12, a PEG ratio of 2.17 and a beta of 1.24. monday.com has a 1 year low of $57.50 and a 1 year high of $220.80. The firm has a fifty day moving average price of $80.67 and a 200-day moving average price of $78.52.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a return on equity of 8.10% and a net margin of 8.87%.monday.com’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. Equities research analysts expect that monday.com will post 2.09 EPS for the current year.

Institutional Trading of monday.com

Several institutional investors have recently made changes to their positions in MNDY. NewEdge Advisors LLC lifted its holdings in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC bought a new position in monday.com in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after buying an additional 354 shares in the last quarter. Quarry LP purchased a new stake in monday.com during the 4th quarter valued at approximately $29,000. Finally, Huntington National Bank grew its holdings in monday.com by 6,040.0% during the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock valued at $45,000 after buying an additional 302 shares in the last quarter. Hedge funds and other 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.