Scotiabank Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target boosted by Scotiabank from $300.00 to $400.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 25.89% from the company’s current price.

Several other research analysts have also recently issued reports on MNDY. Piper Sandler upped their target price on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company increased their price target on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird upped their target price on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday. Oppenheimer raised their price target on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital decreased their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $353.32.

monday.com Stock Performance

Shares of MNDY stock opened at $317.73 on Tuesday. The company has a 50 day moving average price of $251.81 and a 200 day moving average price of $263.06. The stock has a market capitalization of $15.34 billion, a P/E ratio of 774.95, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. monday.com has a fifty-two week low of $174.75 and a fifty-two week high of $342.64.

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

Institutional Investors Weigh In On monday.com

Several institutional investors and hedge funds have recently made changes to their positions in MNDY. FMR LLC raised its position in monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after acquiring an additional 798,791 shares during the last quarter. Norges Bank purchased a new position in shares of monday.com during the 4th quarter worth approximately $116,686,000. SG Americas Securities LLC raised its position in shares of monday.com by 1,024.7% during the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after purchasing an additional 434,035 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in monday.com by 264.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock valued at $126,407,000 after buying an additional 403,255 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other 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.