monday.com (NASDAQ:MNDY) Stock Price Expected to Rise, Robert W. Baird Analyst Says

monday.com (NASDAQ:MNDY) had its target price increased by Robert W. Baird from $265.00 to $270.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler upped their target price on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. Loop Capital increased their price objective on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. UBS Group increased their price target on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Capital One Financial started coverage on monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.10.

monday.com Trading Down 3.6 %

monday.com stock traded down $9.56 during mid-day trading on Tuesday, hitting $259.34. The stock had a trading volume of 300,867 shares, compared to its average volume of 721,730. The firm’s 50 day moving average is $280.09 and its 200 day moving average is $247.65. The firm has a market capitalization 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. monday.com has a one year low of $166.86 and a one year high of $324.99.

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

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in monday.com by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock worth $714,781,000 after acquiring an additional 31,304 shares in the last quarter. FMR LLC boosted its holdings in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares during the period. Renaissance Technologies LLC increased its holdings in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares during the period. Jennison Associates LLC raised its position in monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after buying an additional 170,800 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.