Cantor Fitzgerald Initiates Coverage on monday.com (NASDAQ:MNDY)

Cantor Fitzgerald began coverage on shares of monday.com (NASDAQ:MNDY) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set an “overweight” rating and a $292.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 20.64% from the company’s current price.

Several other equities analysts also recently issued reports on MNDY. William Blair reissued an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Barclays lifted their target price on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Piper Sandler decreased their price target on monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. DA Davidson reiterated a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Finally, Scotiabank reduced their price objective on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and a consensus target price of $310.48.

monday.com Trading Up 0.6 %

NASDAQ MNDY opened at $242.05 on Friday. monday.com has a 1-year low of $174.75 and a 1-year high of $324.99. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 590.37, a PEG ratio of 5.41 and a beta of 1.30. The stock’s 50 day moving average is $256.02 and its two-hundred day moving average is $259.53.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, analysts predict 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 added to or reduced their stakes in MNDY. SG Americas Securities LLC boosted its holdings in shares of monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after buying an additional 434,035 shares during the period. Legal Advantage Investments Inc. acquired a new position in monday.com in the 4th quarter worth $235,000. Oak Ridge Investments LLC acquired a new position in monday.com in the 4th quarter worth $633,000. Channel Wealth LLC bought a new position in monday.com during the 4th quarter worth about $986,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of monday.com in the 4th quarter valued at about $241,000. 73.70% of the stock is currently 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.