Barclays Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective hoisted by equities researchers at Barclays from $325.00 to $360.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 7.69% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on MNDY. Piper Sandler lifted their price target on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday. KeyCorp upgraded shares of 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. Scotiabank increased their price objective on shares of monday.com from $300.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Robert W. Baird lifted their price objective on shares of monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Needham & Company LLC raised their price target on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.36.

monday.com Stock Performance

Shares of monday.com stock traded up $7.72 during trading on Tuesday, hitting $334.30. 159,008 shares of the company’s stock were exchanged, compared to its average volume of 1,131,497. The business has a 50-day simple moving average of $250.37 and a 200-day simple moving average of $262.04. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 812.32, a PEG ratio of 7.67 and a beta of 1.31. monday.com has a 52-week low of $174.75 and a 52-week high of $342.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (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, equities analysts anticipate that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vinva Investment Management Ltd bought a new position in monday.com during the 4th quarter worth approximately $804,000. Andar Capital Management HK Ltd bought a new stake in monday.com during the fourth quarter valued at $2,373,000. Signaturefd LLC boosted its holdings in shares of monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after buying an additional 88 shares during the period. Polen Capital Management LLC acquired a new stake in monday.com during the fourth quarter worth about $12,522,000. Finally, Corient Private Wealth LLC grew its holdings in shares of monday.com by 9.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,541 shares of the company’s stock valued at $363,000 after purchasing an additional 138 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.