monday.com (NASDAQ:MNDY) Receives New Coverage from Analysts at Barclays

Barclays initiated coverage on shares of monday.com (NASDAQ:MNDY) in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm issued an overweight rating and a $275.00 target price on the stock.

Several other research analysts also recently commented on the stock. Piper Sandler reaffirmed an overweight rating and issued a $270.00 price target (up previously from $250.00) on shares of monday.com in a research note on Wednesday, May 15th. The Goldman Sachs Group raised their price target on shares of monday.com from $270.00 to $300.00 and gave the stock a buy rating in a research note on Thursday, May 16th. Tigress Financial raised their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their price target on shares of monday.com from $230.00 to $270.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Finally, Canaccord Genuity Group raised their price target on shares of monday.com from $220.00 to $250.00 and gave the stock a buy rating in a research note on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, monday.com currently has an average rating of Moderate Buy and an average target price of $253.82.

monday.com Trading Up 1.9 %

monday.com stock opened at $240.76 on Wednesday. The firm has a 50-day moving average price of $214.59 and a 200-day moving average price of $209.81. The firm has a market capitalization of $11.62 billion, a PE ratio of 633.60, a price-to-earnings-growth ratio of 47.25 and a beta of 1.30. monday.com has a 12-month low of $122.13 and a 12-month high of $249.00.

monday.com (NASDAQ:MNDY) last released its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.25. The firm had revenue of $216.91 million during the quarter, compared to analyst estimates of $210.33 million. monday.com had a net margin of 2.53% and a return on equity of 2.42%. As a group, sell-side analysts predict that monday.com will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MNDY. Raymond James & Associates boosted its stake in monday.com by 55.2% in the 4th quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock worth $2,352,000 after purchasing an additional 4,457 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in monday.com in the 4th quarter worth approximately $25,925,000. M&G Investment Management Ltd. boosted its stake in monday.com by 8.5% in the 4th quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company’s stock worth $9,089,000 after purchasing an additional 3,796 shares in the last quarter. Boulder Hill Capital Management LP acquired a new stake in monday.com in the 4th quarter worth approximately $2,197,000. Finally, Trexquant Investment LP boosted its stake in monday.com by 107.5% in the 4th quarter. Trexquant Investment LP now owns 61,096 shares of the company’s stock worth $11,474,000 after purchasing an additional 31,656 shares in 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.