DA Davidson Reiterates “Neutral” Rating for monday.com (NASDAQ:MNDY)

DA Davidson reissued their neutral rating on shares of monday.com (NASDAQ:MNDY) in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a $300.00 price objective on the stock.

MNDY has been the topic of several other reports. Oppenheimer increased their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Tigress Financial upped their price target on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Capital One Financial started coverage on monday.com in a research report on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price on the stock. Finally, Bank of America upped their price target on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, monday.com currently has an average rating of “Moderate Buy” and an average target price of $310.10.

monday.com Price Performance

Shares of MNDY opened at $262.89 on Tuesday. The company has a 50-day simple moving average of $280.53 and a two-hundred day simple moving average of $248.14. The firm has a market capitalization of $12.69 billion, a PE ratio of 641.20, a price-to-earnings-growth 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 issued 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. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. Analysts expect that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Trading of monday.com

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com during the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC purchased a new stake in monday.com during the 2nd quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC raised its stake in monday.com by 72.9% in 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 during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of monday.com in the second quarter valued at about $69,000. Finally, Industrial Alliance Investment Management Inc. lifted its stake in monday.com by 741.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after purchasing an additional 356 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other 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.