Needham & Company LLC Boosts monday.com (NASDAQ:MNDY) Price Target to $350.00

monday.com (NASDAQ:MNDY) had its target price raised by Needham & Company LLC from $300.00 to $350.00 in a research report report published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

MNDY has been the subject of several other reports. UBS Group raised their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen raised their price target on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Canaccord Genuity Group raised their target price on shares of monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group raised their target price on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird raised their target price on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.10.

monday.com Stock Performance

MNDY stock traded down $9.56 during mid-day trading on Tuesday, hitting $259.34. 300,867 shares of the company were exchanged, compared to its average volume of 721,730. The firm has a market cap of $12.52 billion, a P/E ratio of 655.85, a P/E/G ratio of 12.55 and a beta of 1.31. The firm’s 50 day simple moving average is $280.09 and its 200 day simple moving average is $247.65. monday.com has a 1-year low of $166.86 and a 1-year high of $324.99.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. On average, equities research analysts predict that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently modified their holdings of MNDY. Mercer Global Advisors Inc. ADV raised its stake in monday.com by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after purchasing an additional 47 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in monday.com by 4.0% during the second quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock worth $314,000 after acquiring an additional 50 shares in the last quarter. Avior Wealth Management LLC raised its stake in monday.com by 2.6% during 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 in the last quarter. FDx Advisors Inc. raised its stake in monday.com by 4.7% during the second quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock worth $482,000 after acquiring an additional 90 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in monday.com by 4.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds 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.