monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of monday.com (NASDAQ:MNDY) in a report issued on Thursday morning, Benzinga reports. They currently have a $300.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. William Blair reissued an outperform rating on shares of monday.com in a research report on Monday, June 24th. Piper Sandler reissued an overweight rating and issued a $300.00 price objective (up previously from $270.00) on shares of monday.com in a research report on Monday, August 12th. Tigress Financial raised their target price on monday.com from $280.00 to $340.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Wolfe Research started coverage on shares of monday.com in a report on Tuesday, July 9th. They issued an outperform rating and a $300.00 price target on the stock. Finally, Citigroup increased their price target on shares of monday.com from $296.00 to $327.00 and gave the company a neutral rating in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, monday.com has a consensus rating of Moderate Buy and an average target price of $294.84.

monday.com Stock Down 0.4 %

MNDY stock opened at $271.97 on Thursday. The stock’s 50 day moving average is $250.46 and its 200-day moving average is $229.11. monday.com has a twelve month low of $122.13 and a twelve month high of $285.64. The firm 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.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The business had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. On average, equities research analysts anticipate that monday.com will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new position in shares of monday.com in the 2nd quarter worth about $45,000. Gilliland Jeter Wealth Management LLC increased its stake in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in monday.com in the 2nd quarter valued at approximately $69,000. PNC Financial Services Group Inc. raised its position in monday.com by 373.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after buying an additional 310 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after purchasing an additional 356 shares during the last quarter. 73.70% of the stock is currently 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.