DA Davidson Boosts monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price target upped by DA Davidson from $250.00 to $300.00 in a research note released on Wednesday, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other research firms have also commented on MNDY. TD Cowen raised their price target on shares of monday.com from $275.00 to $300.00 and gave the company a buy rating in a report on Tuesday, August 13th. Loop Capital raised their target price on shares of monday.com from $285.00 to $310.00 and gave the company a buy rating in a research note on Wednesday. UBS Group upped their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a neutral rating in a research report on Tuesday, August 13th. Piper Sandler reissued an overweight rating and issued a $300.00 price objective (up from $270.00) on shares of monday.com in a research report on Monday, August 12th. Finally, Needham & Company LLC boosted their price objective on monday.com from $250.00 to $300.00 and gave the stock a buy rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $294.84.

monday.com Stock Down 0.4 %

Shares of NASDAQ MNDY opened at $271.97 on Wednesday. The stock has a market capitalization of $13.13 billion, a PE ratio of 715.71, a P/E/G ratio of 13.58 and a beta of 1.32. The firm has a fifty day moving average of $250.46 and a 200-day moving average of $229.02. monday.com has a 52-week low of $122.13 and a 52-week high of $285.64.

monday.com (NASDAQ:MNDY) last posted its quarterly 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 return on equity of 4.74% and a net margin of 4.88%. Equities research analysts expect that monday.com will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC bought a new stake in shares of monday.com in the 1st quarter valued at approximately $728,521,000. Baillie Gifford & Co. acquired a new stake in shares of monday.com during the first quarter worth $76,534,000. Clearbridge Investments LLC lifted its position in shares of monday.com by 2,851.5% in the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after buying an additional 332,852 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in shares of monday.com by 100.3% in the 4th quarter. Eventide Asset Management LLC now owns 407,870 shares of the company’s stock valued at $76,602,000 after buying an additional 204,253 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

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.