Cantor Fitzgerald Initiates Coverage on monday.com (NASDAQ:MNDY)

Equities researchers at Cantor Fitzgerald initiated coverage on shares of monday.com (NASDAQ:MNDY) in a report issued on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $292.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 21.36% from the stock’s previous close.

MNDY has been the subject of several other research reports. Robert W. Baird increased their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Capital One Financial assumed coverage on shares of monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. Scotiabank reduced their price target on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a report on Thursday. Oppenheimer upped their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen lifted their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.48.

monday.com Trading Up 2.8 %

Shares of NASDAQ:MNDY opened at $240.61 on Friday. The stock has a market capitalization of $11.62 billion, a P/E ratio of 586.85, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30. The stock’s 50-day moving average price is $257.66 and its 200-day moving average price is $259.36. monday.com has a 12-month low of $174.75 and a 12-month high of $324.99.

monday.com (NASDAQ:MNDY) last posted its quarterly 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 business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period last year, the company earned $0.15 EPS. monday.com’s revenue for the quarter was up 49.5% compared to the same quarter last year. As a group, research analysts predict that monday.com will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently added to or reduced their stakes in MNDY. Legal Advantage Investments Inc. purchased a new position in shares of monday.com in the 4th quarter worth about $235,000. Oak Ridge Investments LLC bought a new stake in monday.com during the 4th quarter valued at about $633,000. Channel Wealth LLC purchased a new position in monday.com in the fourth quarter worth about $986,000. Park Avenue Securities LLC bought a new position in shares of monday.com in the fourth quarter worth approximately $241,000. Finally, CWA Asset Management Group LLC grew its holdings in shares of monday.com by 17.2% during the fourth quarter. CWA Asset Management Group LLC now owns 3,199 shares of the company’s stock valued at $753,000 after buying an additional 470 shares during the last quarter. 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.