monday.com (NASDAQ:MNDY) Given New $350.00 Price Target at Needham & Company LLC

monday.com (NASDAQ:MNDY) had its price target lifted by Needham & Company LLC from $300.00 to $350.00 in a report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Canaccord Genuity Group raised their price objective on monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Capital One Financial assumed coverage on monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective for the company. Robert W. Baird increased their price objective on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday. DA Davidson restated a “neutral” rating and set a $300.00 price target on shares of monday.com in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.10.

monday.com Stock Down 2.2 %

Shares of MNDY opened at $262.89 on Tuesday. monday.com has a 52 week low of $166.86 and a 52 week high of $324.99. The stock’s 50-day moving average price is $280.53 and its 200-day moving average price is $248.14. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 641.20, a PEG ratio of 12.55 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, equities analysts anticipate that monday.com will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com during the third quarter worth about $43,000. Ridgewood Investments LLC purchased a new stake in shares of monday.com during the 2nd quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC boosted its stake in shares of monday.com by 72.9% during 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. Opal Wealth Advisors LLC acquired a new stake in shares of monday.com in the 2nd quarter worth approximately $69,000. Finally, Industrial Alliance Investment Management Inc. increased its stake in monday.com by 741.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after purchasing an additional 356 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.