JPMorgan Chase & Co. Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price boosted by analysts at JPMorgan Chase & Co. from $350.00 to $400.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 22.48% from the stock’s previous close.

MNDY has been the subject of several other reports. Jefferies Financial Group cut their price objective on monday.com from $350.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Piper Sandler raised their price target on monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Monday. Scotiabank reduced their price target on monday.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a report on Thursday, January 16th. KeyCorp upgraded monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a report on Tuesday. Finally, Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and reduced their target price for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $332.50.

monday.com Stock Performance

monday.com stock opened at $326.58 on Tuesday. monday.com has a 52 week low of $174.75 and a 52 week high of $342.64. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 796.54, a P/E/G ratio of 7.67 and a beta of 1.31. The company has a 50 day moving average price of $250.37 and a 200 day moving average price of $262.04.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. Equities analysts forecast that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of monday.com in the 4th quarter valued at $25,000. Arcadia Investment Management Corp MI bought a new stake in monday.com in the fourth quarter valued at about $28,000. R Squared Ltd acquired a new position in monday.com in the fourth quarter worth about $33,000. Signaturefd LLC raised its position in monday.com by 157.1% in the fourth quarter. Signaturefd LLC now owns 144 shares of the company’s stock worth $34,000 after purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in monday.com by 64.8% during the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after purchasing an additional 59 shares during the period. 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.