monday.com (NASDAQ:MNDY) Receives “Outperform” Rating from William Blair

William Blair restated their outperform rating on shares of monday.com (NASDAQ:MNDY) in a research note published on Wednesday morning,RTT News reports.

Other analysts have also issued research reports about the stock. Capital One Financial initiated coverage on shares of monday.com in a research report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective on the stock. Canaccord Genuity Group increased their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Tigress Financial boosted their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. TD Cowen increased their target price on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Scotiabank assumed coverage on shares of monday.com in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 price target on the stock. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $309.62.

monday.com Price Performance

NASDAQ MNDY traded down $3.96 during trading hours on Wednesday, reaching $228.03. The company’s stock had a trading volume of 290,539 shares, compared to its average volume of 739,086. The stock has a market cap of $11.01 billion, a P/E ratio of 556.17, a P/E/G ratio of 7.75 and a beta of 1.25. monday.com has a 52 week low of $170.00 and a 52 week high of $324.99. The firm has a fifty day simple moving average of $284.33 and a 200-day simple moving average of $258.70.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. monday.com’s revenue for the quarter was up 49.5% on a year-over-year basis. On average, research analysts expect that monday.com will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com in the 3rd quarter worth about $43,000. Ridgewood Investments LLC bought a new position in monday.com during the 2nd quarter worth about $45,000. Gilliland Jeter Wealth Management LLC raised its position in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after acquiring an additional 102 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of monday.com in the 2nd quarter worth approximately $120,000. Finally, Vestcor Inc boosted its stake in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

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.