Wells Fargo & Company Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price raised by equities researchers at Wells Fargo & Company from $340.00 to $380.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 16.36% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target for the company in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Robert W. Baird boosted their price target on shares of monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Loop Capital reduced their price objective on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, DA Davidson reissued a “neutral” rating and set a $300.00 target price on shares of monday.com in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $332.50.

monday.com Price Performance

MNDY opened at $326.58 on Tuesday. monday.com has a fifty-two week low of $174.75 and a fifty-two week high of $342.64. The company’s 50 day moving average price is $250.37 and its two-hundred day moving average price is $262.04. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 796.54, a PEG ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share 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%. As a group, equities 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 and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after acquiring an additional 798,791 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of monday.com by 13.7% in the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock valued at $195,606,000 after purchasing an additional 100,333 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock valued at $166,767,000 after buying an additional 14,304 shares during the last quarter. State Street Corp grew its holdings in monday.com by 3.8% during the third quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after buying an additional 21,585 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in monday.com by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock valued at $150,079,000 after buying an additional 15,300 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Company Profile

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.